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Informist, Tuesday, Dec. 24, 2024

 

 

MUMBAI – The government has extended the duty waiver on imports of yellow peas by another two months till Feb. 28, with immediate effect, the Directorate General of Foreign Trade said in a release Tuesday. Earlier, the deadline for duty-free imports of yellow peas was set to expire on Dec. 31.

 

On Friday, Informist had exclusively reported quoting a government source that the government was likely to extend duty-free imports of yellow peas by two months to keep prices of chana, with the notification expected soon. Yellow peas are cheaper substitute of chana dal in the country.
 

The government source had also said that there was no clarity about the amount of chana sown across the country in the ongoing rabi season. "There are issues that have persisted which may diminish overall (chana) crop output...We want the price momentum, which is on the downtrend, to continue as is. The policy may be amended once we have a better view of how the Indian chana crop is looking like. We should have that in the next two months," the source said.

 

On other hand, traders said the acreage of chana during the ongoing rabi season was more than last year, and it is likely to progress well. As of Dec. 16, farmers across the country sowed chana across 8.6 million hectares, up 1.9% on year, according to data from the Department of Agriculture and Farmers' Welfare. 

 

On Sept. 13, the government had extended the duty waiver on yellow pea imports till Dec. 31 to control high prices of tur and chana. Earlier, duty-free imports of yellow peas were allowed only till Oct. 31.

 

During Apr-Oct, India imported 1.3 million tonnes of yellow peas, according to data from the Ministry of Commerce and Industry. This pulled chana prices down to INR 6,725-INR 6,750 per 100 kg in the key market Akola in Maharashtra in December, from INR 6,975-INR 7,000 per 100 kg a month ago. Prices of yellow peas in domestic markets have remained steady at INR 3,000-INR 4,000 per 100 kg in December. The most-active yellow peas January contract Tuesday closed at INR 3,718 per 100 kg, up 0.5% from the previous close.

 

Earlier Tuesday, Secretary of the India Pulses and Grains Association Satish Upadhyay said that the association has requested the government to impose a 50% import duty on yellow peas as the domestic prices of the commodity are already low.  End

 

Reported by J. Navya Sruthi

Edited by Akul Nishant Akhoury

 

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