Heavy Imports Lead to Losses for Pea Farmers, Traders, and Importers

08-Feb-2025 08:58 AM

Heavy Imports Lead to Losses for Pea Farmers, Traders, and Importers
★ To maintain the availability of various pulses and ensure fair prices for consumers, the government opened up pea imports, which also had a significant impact on the prices of other pulses.
★ Initially, deals were made at high prices, but the market collapsed afterward, leading to heavy losses for importers and traders. These losses are being reported in the thousands or even crores of rupees. Pea traders have suffered greatly.
★ Many importers and traders have gone bankrupt. Farmers are also not getting favorable prices.
★ Peas that were priced at ₹4,000 per quintal 1.5 years ago are now selling for ₹3,200-3,500 per quintal. However, there has been some strength in pea prices in the last 3-4 days, likely due to the non-extension of the import period.
★ It seems the government may impose heavy import duties on peas again.
★ I Grain India believes that import duties may be reintroduced on peas, but not as heavily as before.
★ If import duties are imposed, the import period may also be extended.
★ It remains to be seen what decision the government will make regarding pea imports.