India’s pulses import almost doubled in the 2023-24 fiscal year, reaching USD 3.74 billion, compared to the previous year. Despite various incentives to farmers, India remains dependent on pulse imports for its domestic requirements. To meet demand and control prices, the government is negotiating with new markets like Brazil and Argentina for long-term contracts. Additionally, imports from Mozambique, Tanzania, and Myanmar have been contracted. Inflation on pulses is a major concern during the ongoing election process. However, domestic production of pulses has declined in recent years due to erratic climate conditions. Experts attribute this decline to reduced pulses sowing area and changing production estimates.
To ensure a stable supply of pulses and control prices, the Government of India has allowed duty-free imports of yellow peas until June 2024 and duty-free imports of arhar and urad until March 31, 2025. Additionally, the government has contracted with Mozambique, Tanzania, and Myanmar to import pulses3. The surge in imports aims to boost domestic supply and keep prices in check, addressing the inflationary pressures on pulses4. India’s import of pulses reached a record 4.65 million tonnes in FY24, up from 2.53 million tonnes in the preceding fiscal year.
Disclaimer: This story is auto-aggregated by a computer program and has not been created or edited by agrikunba. Publisher: ABP News
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