India has recently taken measures to address the rising prices of pulses by allowing duty-free imports of yellow peas until March 2024, as per an official gazette notification. The duty on yellow peas, initially implemented at 50% in November 2017, will be lifted, impacting imports primarily from Canada and Russia.
The gazette notification, effective from December 8, 2023, aims to cool pulse prices, with India being a significant consumer and grower of pulses. The country fulfills part of its consumption through imports, including varieties like chana, Masur, urad, Kabuli chana, and tur.
To further stabilize the pulse market, the government extended stock limits on tur and urad dal until December 31, preventing hoarding and ensuring a continuous release of these pulses to maintain affordability. Stock limits for wholesalers, big chain retailers, and millers were adjusted to manage the supply chain.
In a separate move, India allowed the export of non-basmati white rice to various countries, including Comoros, Madagascar, Equatorial Guinea, Egypt, and Kenya. This decision, initially prohibited on July 20 for domestic food security reasons, is now permitted through the National Cooperative Exports Limited, based on government permissions and requests from importing countries.
The Directorate General of Foreign Trade clarified that rice exports would align with government grants to meet food security needs of other nations. Benin is a notable importer of non-basmati rice from India, along with destinations like UAE, Nepal, Bangladesh, China, Cote D’Ivoire, Togo, Senegal, Guinea, Vietnam, Djibouti, Madagascar, Cameroon, Somalia, Malaysia, and Liberia. These interventions showcase India’s dynamic approach to balance domestic market conditions, ensure food security, and meet the needs of international trade partners.
