Govt Extends Duty-Free Import Window for Yellow Peas Until October 2024

The government has further extended the timeline for duty-free imports of yellow peas, according to a recent official notification approved by the Minister of Commerce and Industry. This extension grants an additional four months, pushing the deadline to October 2024.

Earlier, the central government had permitted duty-free imports of yellow peas until March 2024. Subsequently, this deadline was extended successively to April and then June as part of New Delhi's strategy to stabilize prices within the pulse market.

The duty on yellow peas was originally imposed at 50 percent in November 2017. India primarily sources yellow peas from countries such as Canada and Russia. Despite being a significant consumer and producer of pulses, India continues to fulfill a portion of its consumption requirements through imports.

The Indian pulse consumption predominantly revolves around chana, Masur, urad, Kabuli chana, and tur pulses. In a series of interventions, the government had earlier extended stock limits on tur and urad dal until December 31, further revising the stock holding limits for key stakeholders.

The Ministry of Consumer Affairs, Food and Public Distribution underscored that these measures were aimed at curbing hoarding, ensuring a continuous and sufficient release of tur and urad pulses into the market, and maintaining affordable prices.

Despite concerted efforts, including incentivizing farmers, India's dependence on imported pulses remains significant. Notably, pulses imports surged in 2023-24, nearing USD 3.74 billion, nearly doubling from previous levels.