The period of duty-free import of yellow peas extended till February 28

24-Dec-2024 06:59 PM

The Central Government has extended the period for duty-free import of yellow peas, with the new deadline set to February 28, 2025. Initially, the deadline was December 31, 2024, but it has now been extended by two months.

This extension was announced through a Gazette Notification (No. 43/2024-25) issued on December 24, 2024, by the Directorate General of Foreign Trade (DGFT), an agency under the Union Ministry of Commerce.

The terms for the import of yellow peas remain unchanged, meaning it will continue to be duty-free, decontrolled, and without a minimum import price (MIP).

Importers are still required to register under the online import monitoring system, and the imports can be made at any port in India.

The decision is effective immediately, applying to consignments where the Bill of Lading is issued on or before February 28, 2025.

As a result of this extension, the price of yellow peas in exporting countries such as Canada and Russia may see a slight increase, as their prices have remained stable recently. Additionally, the import activity in India is expected to rise in the coming months.