Pulses imports from India saw an unheard-of spike in the fiscal year 2024

New Delhi.  Pulses imports from India saw an unheard-of spike in the fiscal year 2024, rising 84% year over year to a six-year high. India’s import value and volume climbed dramatically, bolstered by duty-free imports and increased purchases of yellow peas and red lentils, which helped to fill domestic production gaps and maintain international prices.

India’s fiscal year 2024 had a surge of 84% in the imports of pulses over the previous year, marking the largest level in six years.

Rising Purchases of Red Lentils: Among other pulses, the increase in imports was mostly caused by rising purchases of red lentils and yellow peas.

Duty-Free Imports: Due to reduced production, India permitted the duty-free importation of yellow peas and red lentils, which increased imports even more.

Support for Global Prices: The increased imports from India have helped to lower stocks in exporting nations like Australia, Canada, and Myanmar while also supporting global prices.

Volume and Value of Imports: In FY24, India imported 4.65 million metric tons of pulses valued at $3.75 billion, the most since fiscal 2018.

Causes of spike: The import spike was caused by lower production and the government’s decision to remove import levies prior to the election.

Important Import Sources: India imports pulses mostly from Tanzania, Mozambique, Australia, Burma, and Canada, with notable increases coming from Turkey and Russia for yellow peas and from Canada for red lentils.

Pigeon Peas and Chickpeas: In order to make up for a shortfall in production, imports of these two types of beans increased.