Shipment of new consignment of yellow peas from Canada likely to start from next month
12-Aug-2024 04:50 PM
Mumbai. The Government of India had earlier allowed duty-free and control-free import of yellow peas in December 2023 and later extended its deadline till 31 October 2024.
But the point to be noted is that only yellow peas have been allowed to be imported, while the ban on the import of green peas, Doon peas and Kaspa peas etc.
will remain in force, due to which the price of green peas has started softening in exporting countries like Canada, Ukraine and Argentina as trade analysts believe that its import will not be allowed in India.
During December 2023 to May 2024, about 18.50 lakh tonnes of yellow peas were imported in India, in which Canada contributed 45 per cent and Russia contributed 35 per cent. 4.02 lakh tonnes were imported in April, which fell to 2.84 lakh tonnes in May.
Imports are expected to decline further in June-July as its stock remained limited in major exporting countries. Imports may improve from August while it is expected to pick up pace from September.
Shipment of new consignments of yellow peas from the countries of the Black Sea region, especially Russia and Ukraine, started from the last week of July while exports from Canada are expected to pick up pace from the first or second week of September.
Many old contracts were terminated there which were for shipment in bulk as well as containers. Later it was sold to Pakistan and Bangladesh. This has made exporters cautious and they have less stock left.
In the domestic segment, the price of imported yellow peas was recorded at Rs 37 in Mumbai and Rs 40 per kg in Kolkata.
According to trade analysts, despite all the consumption, a huge stock of about 7.50 lakh tonnes of yellow peas is still left in India and it is capable of meeting 10-15 percent growth of Desi gram.
Trade organizations are urging the government to continue the duty-free import of yellow peas even after October 31.
The government has also given a positive signal on this. There is no minimum support price fixed for yellow peas nor is the government responsible for purchasing it from the farmers.