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India's pulses imports surge in 2023-24, may rise further
The Business Guardian
|April 18, 2024
Despite multiple initiatives and incentives to boost domestic production, India remains heavily reliant on pulse imports to meet its domestic demand. Imports of pulses nearly doubled in the fiscal year 2023-24, reaching USD 3.74 billion.
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Government sources have disclosed that import figures for the financial year 2023-24 are yet to be officially released, but estimates suggest shipments have surpassed 45 lakh tonnes, compared to 24.5 lakh tonnes the previous year.
To address the demand-supply gap and stabilize prices, the government is in negotiations with new markets such as Brazil and Argentina for long-term contracts on pulse imports.
Negotiations are nearing completion for importing over 20,000 tonnes of urad from Brazil and arhar from Argentina. Additionally, contracts have been secured with countries like Mozambique, Tanzania, and Myanmar for importing pulses.
This story is from the April 18, 2024 edition of The Business Guardian.
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