Importers strike deals to import lentils of three million tonnes to cut down prices to manage the growing prices of pulses. Pulse rates that have hit Rs 200 per kilogram, traders have duly-signed contracts to import about 3 million tonnes of lentils in this year worth about $2 billion as domestic demand shortage as per import export data exhibits the record.
Import export data will analyze the forecast of importing pulses from outside India.
Retail pulse prices have been on an overhead trajectory as its output is pre-estimated to have declined to 17.06 million tonnes (mt) in 2015-16 crop year (July-June) due to predominantly droughts while domestic demand airs around 23-24 mt.
“Last year the importers had imported a record 5.79 mt of pulses. This year, they have so far indulged into contract to import 3 mt, which is scanned to start arriving from August till December. It will include yellow peas, chana, masoor and tur,” Indian Pulses and Grains Association Vice-Chairman Bimal Kothari told PTI.
Yellow peas will be imported from Canada and European countries, chana from Australia, masoor from Canada and Australia and tur from East Africa and Myanmar, he stated in a statement.
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