News

India's pulses import almost doubled in 2023-24, it may rise further this year

Other Pea & Pulse
India
Market & Price Trends
Published Apr 17, 2024

Tridge summary

In the financial year 2023-24, India has seen a significant increase in its reliance on pulse imports, with the total import bill nearly doubling to USD 3.74 billion and shipments rising to over 45 lakh tonnes from the previous year's 24.5 lakh tonnes. This surge is attributed to efforts to meet domestic demand and stabilize prices amidst declining domestic production, which has been affected by erratic weather and reduced sowing areas. The government is responding by exploring long-term contracts with countries like Brazil and Argentina, in addition to existing agreements with Mozambique, Tanzania, and Myanmar, and implementing measures such as duty-free imports and higher minimum support prices (MSPs) for domestic producers. Despite these efforts, pulses inflation soared to 17% in March, leading to the imposition of stock limits and increased scrutiny on hoarding to curb inflationary pressures.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Despite several measures, including various incentives to farmers, India is still dependent on imports of pulses for its domestic requirements.Pulses imports have almost doubled in 2023-24 to USD 3.74 billion.However, the official figure is yet to be disclosed, and estimates suggest shipments have crossed 45 lakh tonnes in the just-concluded financial year 2023-24 as against 24.5 lakh tonnes a year ago.Government sources said that to meet domestic demand and keep prices in check, government is negotiating with new markets like Brazil and Argentina for long-term contracts for pulses imports.Over 20,000 tonnes of urad will be imported from Brazil and negotiations are almost at the final stage to import arhar from Argentina.The government has also contracted with Mozambique, Tanzania, and Myanmar to import pulses.The surge in imports in recent months is to boost domestic supply and keep prices in check.Earlier, the government has allowed duty-free imports of yellow peas till June of ...
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