Creation of new opportunities due to increasing global demand of pulses

30-Aug-2024 12:24 PM

Melbourne. A report by the Rabo Bank states that the increasing global demand of pulses is only benefiting the current productive and exporting countries, but in the new countries, the enthusiasm and attraction of farmers towards its production has started increasing.

Due to this, new opportunities are being created and the continuity of farming is strengthening. Pulses are a special cadre grain and have its own separate market.

Its business is growing rapidly globally and its consumption in various countries is increasing.

The global production of pulses is expected to reach close to 10 million tonnes, with a joint contribution of gram, peas and lentils to close to 40 percent. Since 2015, there has been a huge increase of 29 percent in the business of pulses.

In the year 2024, the global trade of pulses has been estimated to increase to 210 lakh tonnes by the International Grains Council (IGC).

According to trade analysts, the demand for pulses is increasing due to two major reasons. Its consumption is increasing in new emerging markets as it is a cheaper source of protein.

Apart from this, there is a good increase in demand and consumption of pulses in developed countries. It is considered a good option for dairy products.

The dominance of new countries has started increasing in the global export market of pulses, including Russia and Argentina.

Russia has greatly increased its participation in pea exports, while Argentina is emerging as a major exporting country of various beans.

Similarly, in the countries of Middle East Asia and North Africa, Turkey has become an important center of exports of pulses. African country- Egypt remains the most prominent importer of Faba Beans in the world.

South Asia has the highest consumption of pulses where countries like India, Pakistan, Bangla country, Sri Lanka and Nepal are its main consumers.

Peas are also imported on a large scale in China. Many other countries are also increasing consumption of pulses.