Pulses import duties may ease over poor rains
At present, imports of chana attract a 10% duty, while yellow peas are subject to a 30% duty. Tur and urad imports are allowed duty-free until March 31, 2027. The proposed reduction in duties on chana and yellow peas would be to improve domestic availability and contain prices. Prices of chana, moong, matar and tur have risen by up to 10% over the past month, with a 3-5% spike in the past week,…
The government is contemplating lowering import duties on chana and yellow peas due to poor monsoon rains and declining pulse yields, which are causing prices to surge before the festive season, according to commodity traders. Currently, chana imports incur a 10% duty, while yellow peas bear a 30% duty. Urad imports are duty-free until March 31, 2027.
The proposed reduction aims to enhance domestic availability and stabilize prices. Prices of chana, moong, matar, and tur have increased by up to 10% over the past month, with a 3-5% rise in the recent week, driven by crop yield concerns and heightened festive demand. Suresh Agarwal, president of the Dal Mill Association, noted that deficient rainfall in key producer states like Maharashtra and Karnataka will significantly affect pulse yields this year.
Though overall pulses acreage remains relatively stable, the uneven distribution of rainfall has raised concerns over crop productivity.
Written by urgent.news from The Economic Times - Economy's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
