Indian import for pulses grew twofold in 2023-24, may rise further

Despite the implementation of certain measures and the provision of incentives for farmers, India continues to witness a growth in pulses imports.

The imports for pulses continued to increase, almost doubling to USD 3.74 billion, in 2023-24. 

However, the official figure has not yet been revealed. But according to estimations, the shipments worth 45 lakh Tonnes have been crossed this financial year 2023-24. In contrast to 24.5 lakh Tonnes just one year ago.

The sources related to the government have revealed that in order to keep up with the domestic demand and to regulate prices, the government is in the process of negotiation with different countries like Argentina and Brazil for long-term contracts. 

With Argentina, negotiations have reached the final for arhar import. While from Brazil, around 20,000 urad will be imported. 

Apart from South American countries, the government has also contracted with another set of countries – Mozambique, Tanzania, and Myanmar.

In order to further keep inflation in check, the government has also undertaken another set of measures. 

Like earlier, the government has allowed duty-free imports of yellow peas, arhar and urad till June 2024 & 31st March 2025 respectively. And it has further set restrictions on the amount of pulses that can be stocked till 15th April and has also requested the states to be watchful for hoarding activities.

With Lok Sabha Elections just around the corner, Pulses Inflation continues to remain a concern. As per recent numbers, pulses inflation is hovering at 17 & 19 percent in March & February respectively.