No relief in sight for pulses import cost
The country's fat pulses import bill is unlikely to ease as there is no sign of prices coming down in Canada, India's largest source for imports, which would rather keep the prices strong to protect its farmers.
By PTI |
NEW DELHI: The country's fat pulses import bill is unlikely to ease as there is no sign of prices coming down in Canada, India's largest source for imports, which would rather keep the prices strong to protect its farmers.
"Pulses prices need to remain strong in Canada in order to provide the incentive for growers," industry body Pulse Canada's Market Development Director Carl Potts told PTI in an e-mail interview.
The incentive is required as prices for other crops such as wheat, barley and canola "have and are" expected to continue to be strong in the coming months, he added.
He said robust demand from India and China would provide support to firmness in prices in Canada.
The prices of most pulses, particularly peas, have gone up significantly over the last year, Potts said, adding "peas are the pulse that are exported in largest quantities to India". The yellow peas prices in Canada have increased to USD 550 per tonne form USD 300-350 a tonne in the past year.
ADVERTISEMENT
He said India imported over 7.43 lakh tons of pulses from Canada in 2006 (January-December) compared to 4.34 lakh tons in 2004 from Canada, a jump of 71 per cent. "I estimate that India will import over one million tons of Canadian pulses in 2007 calendar year," Potts said.
India's pulses imports have been rising for the past few years due to the domestic demand-supply mismatch. The main pulses imported from Canada include yellow peas (white matar), chickpeas (chana) and lentils (masoor).
The Canadian expert also pointed out that high freight cost was increasing the total cost of imported pulses in India.
"Pulses prices need to remain strong in Canada in order to provide the incentive for growers," industry body Pulse Canada's Market Development Director Carl Potts told the media in an e-mail interview.
ADVERTISEMENT
The incentive is required as prices for other crops such as wheat, barley and canola "have and are" expected to continue to be strong in the coming months, he added. He said robust demand from India and China would provide support to firmness in prices in Canada.
ADVERTISEMENT
The prices of most pulses, particularly peas, have gone up significantly over the last year, Potts said, adding "peas are the pulse that are exported in largest quantities to India". The yellow peas prices in Canada have increased to USD 550 per tonne form USD 300-350 a tonne in the past year. He said India imported over 7.43 lakh tons of pulses from Canada in 2006 (January-December) compared to 4.34 lakh tons in 2004 from Canada, a jump of 71 per cent.
"I estimate that India will import over one million tons of Canadian pulses in 2007 calendar year," Potts said.
India's pulses imports have been rising for the past few years due to the domestic demand-supply mismatch. The main pulses imported from Canada include yellow peas (white matar), chickpeas (chana) and lentils (masoor).
The Canadian expert also pointed out that high freight cost was increasing the total cost of imported pulses in India.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
