Stock disclosure rules for yellow peas tightened as importers refuse to sell

India's pulses importers have requested the central government to impose an import duty on yellow peas as cheap imports have dampened the price in domestic markets.

Concerned that importers are holding back huge quantities of yellow peas imports in the domestic markets, the central government on Friday further tightened the stock disclosure requirements on pulses industry and trade. In addition to stock position requirements being submitted by the stakeholder, they will have to now submit stock in/stock out quantities twice a week.

Senior officials of the central government conducted a meeting with the stakeholders of the pulses industry.

As the production of chana or chickpeas is expected to be much lower than government and trade estimates, the central government extended the import window four times by extending the last date to import yellow peas to October 31 as of now.

According to trade sources who attended the meeting, the importers told the government that they are not able to sell the imported yellow peas as they had bought it at higher than the prevailing domestic prices.

"The importers had rushed to buy yellow peas at high prices as the last date to import was first fixed on March 31. It was extended later to October 31," he said.

There is abundant availability of yellow peas in the international market, especially with Russia. Industry sources said that at present, India is the most important buyer for Russian yellow peas as the EU has imposed an import duty on Russian grains.

China, another big consumer of yellow peas, has higher stocks as it is facing issues in exporting yellow peas to the US.

India opened import of yellow peas after many years as its domestic crop of yellow peas and chana fell short in 2023-24 due to erratic monsoon rainfall. India uses yellow peas as a substitute for chana, the highest consumed pulse in the country. According to trade estimates, India has already imported 17 lakh tonnes of yellow peas and another 2.5-3 lakh tonnes is expected to arrive by October 31.