The prices of Pigeon Pea in India have declined by 15-20% from the highs of October, while those of other legumes like Red lentil & Chickpea have stabilized following measures taken by Government.
The Government extended the duration to import Pigeon Pea and the low import duty on Red lentil till December 31 and offloaded Chickpea in the market to bring down the prices of these commodities.
The mill gate & retail prices of Pigeon pea had touched INR 120/KG & INR 150/KG, respectively.
The Government has also started selling Pigeon pea to the states through the public distribution system.
The Central Government in the country recently renewed the agreement to import them for another five years with a commitment to import 200,000 tons of the commodities every year.
The prices of Chickpea have also stabilized, mainly due to the festive season in the country and no extension of the PM’s program to distribute it among the poor, helping support Chickpea prices.
The Government has also extended the low import duty of 10% imposed on Red lentils till December 31.
These measures have helped bring down the rising prices of Pulses ahead of elections in the countries regions.
While at the harvest time, the excessive imports are likely to suppress farmer’s margins.
The Government gave a small window to import Pigeon pea, Red lentils & Chickpea, which resulted in price rise.
Thus, in a nutshell, the time limit for importing Pigeon pea under the import quota of 400,000 for 2020-21 has been extended till December 31, 2020 while the import duty of Red lentil is at 10%, which will continue till December 31.