India has extended its duty-free import window for peas by a month, allowing imports without tax until April 30, 2024. This policy has already had a significant impact on global pulses markets. India, which has been out of the market for about seven years, is projected to import 1.8 million tonnes of peas in 2024. The extension is seen as a pre-emptive move by the government to address a potential shortfall in the country's pea supply, especially amid concerns over the pigeon pea and chickpea crops.
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India is extending its duty-free pea import window by one month. Exporters now have until April 30, 2024, to get product into the country without having to pay an import tax, up from the original deadline of March 31. The policy already had an enormous impact prior to the extension. “Indian pea imports have caused a storm in the world pulses markets,” Gaurav Jain, analyst with AgPulse Analytica, said in an email. “Prices of nearly all types of pulses are affected and at all origins.” Vivek Agrawal, director of JLV Agro, an Indian commodity brokerage firm, is forecasting that India will import 1.8 million tonnes of peas in 2024. That would be a huge new source of demand for yellow peas, given that India has been out of the market for about seven years. Jain believes India will import one million tonnes of peas by March 31 and another one million tonnes after that. “As per our understanding, this will empty out the inventories of all major origins, including Russia,” he said. India ...
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