India extends duty free import of yellow peas by one month
Feb 22, 2024
New Delhi [India], February 22 : India has extended the timeline for duty-free imports of yellow peas by a month through April, 2024, an official gazette notification said.
In early December, the central government allowed duty-free imports of yellow peas until March 2024. It was part of New Delhi's intervention to cool the prices of the overall pulse basket.
Reportedly, the duty on yellow peas was first implemented in November 2017 at 50 per cent. India largely imports yellow peas from Canada and Russia.
India is a large consumer and grower of pulses and it meets a portion of its consumption needs through imports. India primarily consumes chana, Masur, urad, Kabuli chana, and tur.
As part of centre's invervention, it had in September extended stock limits on tur and urad dal by two months until December 31, besides revising the stock holding limits for certain stakeholders. Earlier, the stock limits on these two varieties of pulses were to end on October 30.
As per a notification issued then, the limit for stock with wholesalers and also big chain retailers at the depot was reduced from 200 MT to 50 MT, and the limit for millers was reduced from the last three months' production or 25 per cent of annual capacity, whichever is higher to last 1-month production or 10 per cent of annual capacity, whichever is higher.
The Ministry of Consumer Affairs, Food and Public Distribution had maintained the revision in stock limits and extension of the time period is to prevent hoarding and elicit the continuous release of tur and urad in sufficient quantities to the market and make the pulses available at affordable prices.
