 "Pulses import bill to decline 25% on higher domestic output")
India’s pulses import bill is set to decline 25 per cent this financial year due to a record domestic output and an unabated fall in prices globally. The fall in import will save around $730 million (Rs 4,350 crore) outflow.
Pulses import hit a record 4.02 million tonnes (mt) in 2012-13, an increase of 15 per cent from 3.5 mt the previous year. But the import bill shot up 41.34 per cent to Rs 13,354 crore in 2012-13 from Rs 9,448 crore in the previous year. The sharp increase in the bill was attributed to a staggering 13.6 per cent depreciation in the rupee against the dollar.
“This year, however, import is set to decline by a minimum 0.50 mt or 13 per cent of the entire import quantity on bumper output estimates from local sources. Coupled with that, pulses prices have fallen by at least 15 per cent since April. Accumulatively, this will lower pulses import bill by 25 per cent,” said Bimal Kothari, vice-president of India Pulses and Grains Association (IPGA) and owner of Pancham International Ltd, a Mumbai-based pulses importer.
The ministry of agriculture has set a target of 19 mt of pulses output for this year against 18.45 mt reported in the second advanced estimates on Monday. India’s 40 per cent pulses output comes from the kharif crop, while the remaining from the rabi season.
“The monsoon has been favourable so far with over 50 per cent of 36 meteorological sub-divisions has reported normal to excess rainfalls. Given that the trend continues in the rest of the period this monsoon season and estimates for supportive soil moisture for rabi sowing, pulses output in India may comfortably hit the record target of 19 mt,” said Pravin Dongre, president of IPGA and chief executive of the Indian subsidiary of Glencore, one of the world’s largest commodity trading companies.
Also, tur in Myanmar is quoted at $625 a tonne today, a decline of $125 from the level of $750 a tonne in April. Similarly, urad, chana and yellow peas are currently quoted at $525 a tonne, $470 a tonne and $400 a tonne, respectively, from $650 a tonne, $570 a tonne and $460 a tonne in April.
Kothari emphasises to increase yield which has been stagnated at 650 kg/hectare in India against the world average of 1,800 kg / ha. For this, however, hybridisation is going on all across the country with research is in progress to scale up pulses yield.
Pulses import hit a record 4.02 million tonnes (mt) in 2012-13, an increase of 15 per cent from 3.5 mt the previous year. But the import bill shot up 41.34 per cent to Rs 13,354 crore in 2012-13 from Rs 9,448 crore in the previous year. The sharp increase in the bill was attributed to a staggering 13.6 per cent depreciation in the rupee against the dollar.
“This year, however, import is set to decline by a minimum 0.50 mt or 13 per cent of the entire import quantity on bumper output estimates from local sources. Coupled with that, pulses prices have fallen by at least 15 per cent since April. Accumulatively, this will lower pulses import bill by 25 per cent,” said Bimal Kothari, vice-president of India Pulses and Grains Association (IPGA) and owner of Pancham International Ltd, a Mumbai-based pulses importer.
The ministry of agriculture has set a target of 19 mt of pulses output for this year against 18.45 mt reported in the second advanced estimates on Monday. India’s 40 per cent pulses output comes from the kharif crop, while the remaining from the rabi season.
“The monsoon has been favourable so far with over 50 per cent of 36 meteorological sub-divisions has reported normal to excess rainfalls. Given that the trend continues in the rest of the period this monsoon season and estimates for supportive soil moisture for rabi sowing, pulses output in India may comfortably hit the record target of 19 mt,” said Pravin Dongre, president of IPGA and chief executive of the Indian subsidiary of Glencore, one of the world’s largest commodity trading companies.
Also, tur in Myanmar is quoted at $625 a tonne today, a decline of $125 from the level of $750 a tonne in April. Similarly, urad, chana and yellow peas are currently quoted at $525 a tonne, $470 a tonne and $400 a tonne, respectively, from $650 a tonne, $570 a tonne and $460 a tonne in April.
Kothari emphasises to increase yield which has been stagnated at 650 kg/hectare in India against the world average of 1,800 kg / ha. For this, however, hybridisation is going on all across the country with research is in progress to scale up pulses yield.