The import volumes of Lentils in India may decrease

Harvest of India Rabi season is almost complete. This harvest period met the expectations in both the pulses and grain groups. In parallel with the increase in the area planted for lentils, there is a similar increase in crop tonnage, with total production expected to rise to 1.5M/mt which was 1.4M/mt in 2021.
The gradual increase in production in recent years may cause a decrease in import expectations. There is an expectation of 750K/mt of imports this year, instead of 850K/mt of imports experienced in 2021. Some of these imports can be obtained from countries such as Kazakhstan and Russia, which have trade agreements between them.
Companies are offering USD 920/mt of the current crop to Indian ports, the government’s minimum support price in the domestic market is around USD 750 USD/mt. Prices in the domestic market are around USD 900/mt. There are no changes in taxes yet.