New Delhi [India], December 24 : India has extended the timeline for duty-free imports of yellow peas by two more months until February 2025, according to an official notification from Directorate General of Foreign Trade (DGFT).
In early December 2023, the central government allowed duty-free imports of yellow peas until March 2024, later to be extended till April, then June, and later till October and December.
It was part of New Delhi's intervention to cool the prices of the overall pulse basket.
Reportedly, the duty on yellow peas was first implemented in November 2017 at 50 per cent. India largely imports yellow peas from Canada and Russia.
India is a large consumer and grower of pulses and it meets a portion of its consumption needs through imports.
India primarily consumes chana, Masur, urad, Kabuli chana, and tur pulses.
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.
Despite being a significant producer of pulses, India's production has not kept pace with demand, leading to a rise in imports. The imports are done from Myanmar, Australia, Russia, Canada, and besides from some African countries.
Pulses production in India has increased from 16.3 million tonnes during 2015-16 to 24.5 million tonnes during 2023-24, but the demand also went up in the meantime.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor