Pulses imports to India, the world's biggest buyer, may fall to their lowest in nearly two decades after the government raised import taxes and restricted overseas purchases to bolster prices, impacting the plans of its global suppliers.
The reduction in imports illustrates the government's steps to raise the prices of pulses, like peas and lentils, to reduce the payouts to farmers under its food subsidy scheme.
Farmers in Canada, Australia and Russia that rely on Indian demand will likely intensify their cutbacks in pulses cultivation and continue to seek other markets in response to the curbs.
India's pulses imports could fall nearly 80 percent to 1.2 million tonnes during the financial year of 2018/19 that started in April, the lowest since 2000/01, Bimal Kothari, Vice Chairman, Indian Pulses and Grains Association, told Reuters.
Latest News