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The Government opened up the imports of yellow peas on Friday and allowed shipments duty-free until March 31, 2024, to boost the supply of pulses and keep prices under check.
The Directorate-General of Foreign Trade (DGFT), in a notification, revised the import policy condition for yellow peas placing it under the “Free” category from the “Restricted” one.
“Import is free without the minimum import price (MIP) condition and without the port restriction for the period upto March 31, 2024. Import consignments where customs out-of-charge is issued after March 31, 2024 shall not be considered as ‘free’” the DGFT notification said.
Compulsory registration
Further, the notification said that all import of yellow peas up to March 31, 2024, shall be allowed subject to compulsory registration under the import monitoring system with immediate effect.
Following India’s decision to open up imports, the trade in Canada has jacked up the prices by about $75 per tonne, trade sources said. “We welcome the Government’s move to allow imports. However, the Government should have levied some duty to ensure that the landed price of yellow peas in India are not below the minimum support price (MSP) of chana of ₹5,440 per quintal,” said Bimal Kothari, Chairman, India Pulses and Grains Association, the apex trade body.
At current prices, the landed price of yellow peas in India would be around ₹4,300 a quintal, Kothari said. The lower prices of yellow peas when compared to chana may hurt both the growers and also the millers in Uttar Pradesh and Madhya Pradesh. “The government should have levied some duty to protect the growers interests,” he said.
On CIF basis to India, the yellow pea prices in Canada have moved up to $500 per tonne, following the Government’s decision. Earlier, the Canadian yellow pea prices were trading in the range of $430-435 per tonne.
Late Thursday, the Government issued a notification removing the duty on yellow peas import. Earlier, yellow peas attracted a 50 per cent Customs duty. Kothari said with the latest’s government’s move, imports of close to 3 lakh tonnes may take place till March 31, 2024.
India imports yellow peas mainly from countries such as Canada and Russia.
“With effect from April 1, 2024, the Restricted import policy and associated policy conditions as existing prior to this notification shall come into force,” the DGFT notification said. Under the restricted category, imports of yellow peas were subject to an annual quota and a minimum import price of ₹200 and above CIF per kilogram. Also, import were allowed through Kolkata sea port only.
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