India’s duty-free import regime of yellow peas has come to an finish with no notification being issued for extending the power, commerce sources stated.
India started permitting duty-free import of the heartbeat from December 8, 2023, and has been extending it. The final extension, as much as February 28, 2025, got here on December 25, 2024.
As per the December 8, 2023, notification, the obligation stands restored if no recent notification is issued. Commerce sources stated yellow peas will now be subjected to a 30 per cent obligation and a ten per cent Agri Infrastructure Fund Cess (whole 33 per cent obligation). Additionally, imports can be permitted by way of the Kolkata port solely, and the landed worth shouldn’t be under ₹200 a kg.
“Ultimately, the yellow peas monkey is off the again of the pulses commerce trade,” stated a commerce supply. The heart beat shipments into the nation can be allowed provided that the invoice of lading was issued on or earlier than February 28, 2025. Consignments for which invoice of lading have been issued have to achieve India earlier than March 31, 2025.
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India imported at the least 3 million tonnes (mt) of yellow peas, primarily from Canada, in 2024. The massive imports depressed the costs of different pulses resembling pigeon peas (tur/arhar), black matpe (urad) and chickpea (gram/chana). The costs of a few of these pulses are at present ruling under their minimum support prices.
The commerce, led by the Indian Pulses and Grains Affiliation, had urged the Centre to reintroduce the obligation regime, saying it was hurting farmers. However, the commerce may seize this chance to promote yellow peas at a better worth.
Costs of pulses have begun to rebound within the home market on hopes of the duty-free import regime coming to an finish. “Costs elevated by over ₹150 a quintal after the obligation lapsed. Costs of black matpe, chickpeas and lentils are anticipated to agency up from right here,” the commerce supply stated.
Commerce sources stated any determination on extending duty-free imports or chopping customs obligation will seemingly be carried out after the Agriculture Ministry declares its rabi pulses crop manufacturing estimates.
