The government has mandated the registration of yellow peas imports under the Import Monitoring System, aiming to boost domestic availability starting from March 31 next year.
The Directorate General of Foreign Trade (DGFT) has announced that the restricted import policy, along with associated conditions, will be enforced from April 1, 2024.
Until March 31, 2024, yellow peas import will be exempted from charges, contingent upon immediate registration under the Import Monitoring System, as stated in an official notification.
The notification further clarifies that, during this exemption period, Minimum Import Price (MIP) conditions and port restrictions will not apply to yellow peas imports.
Previously, imports were subject to an annual quota, with a Minimum Import Price (MIP) of Rs 200 per kg or higher CIF (cost, insurance, freight).
Notably, the importation of yellow peas was confined to the Kolkata Seaport.
As of 1-4, India had imported yellow peas valued at USD 2022.23 lakh from Russia. This new regulation is a strategic move by the government to regulate and enhance the availability of yellow peas within the country.
