At the global pulses convention here, all attention is on India. Why not? After all, it is the world's largest producer, importer and consumer of pulses and has been in the import market for nearly 30 years. Many exporting countries are substantially dependent on India as a major outlet for marketing their produce.

No wonder, if India sneezes, the world pulses market catches cold. Unfortunately for some supplier countries, India started to sneeze a few months ago which has made many exporters shiver.

Import volumes into India have begun to slow; and one can well imagine what impact it will exert on international prices when the world's largest importer starts to import less, contrary to expectation.

India's domestic pulses output has expanded substantially in 2010-11. The incremental output has been unprecedented in the annuals of the country's agriculture. From 14.7 million tonnes in 2009-10, pulses production expanded to a record 17.3 mt in 2010-11, perhaps for the first time exceeding the annual target of 16.5 mt by a good margin.

Pulses prices that had reached unconscionable levels – Rs 100 a kg – this time last year, have eased considerably under the weight of domestic harvest. Prices have corrected down by 25-40 per cent.

In recent weeks, world prices have begun to decline in the wake of bumper Indian harvest and slowdown in import volumes.

The global pulses convention organised by International Pulses Trade and Industry Confederation has a record number of delegates (over 700 from 60 countries, including about 100 from different parts of India) assembled here. They are keen to know how Indian market would pan out in the coming months. Will India harvest a bumper crop again? Weather is of course an unknown factor.

Global pulses production is an estimated 60 mt and trade is worth $100 billion.

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