Lentil Market: What to Expect

08-Feb-2025 08:54 AM

Lentil Market: What to Expect
★ There has been significant fluctuation in lentil prices over the past 15 days.
★ A record amount of lentils were imported last fiscal year, and the consumption of these imports is still ongoing.
★ Imports have decreased in the current fiscal year, but availability remains good. The area under cultivation is expected to be similar to last year. Production is expected to reach 1.6 to 1.8 million tons.
★ Lentil imports without duties will remain in effect until March 31, 2025.
★ Lentil prices are currently below the MSP, and new lentils will soon begin arriving in the markets.
★ I Grain India believes that the relief on lentil import duties may be removed, meaning import duties could be reintroduced. There are two to three reasons for this:
1. The prices being low.
2. Upcoming elections in Bihar.
3. The government's effort to boost pulses production.