NEWS ALERT: The Food Ministry is in favour of a 7.5 per cent import duty on pulses against 10 per cent suggested by the Commission for Agriculture Costs and Prices (CACP) to boost the domestic production. India, the largest producer of pulses, imports about three million tonnes of lentils every year to fulfill its domestic demand. Pulses imports are being permitted at zero duty since 2006 to ensure domestic availability. The import duty hike is necessary at this point to protect the domestic farmers because imported pulses like tur have become cheaper compared to domestic pulses, especially after the hike in the minimum support price (MSP). According to industry data, traders are now importing tur at Rs 3,300-3,500 per quintal from Myanmar, while domestic prices are ruling at Rs 4,300 per quintal.
Posted on: Mon, 08 Jul 2013 09:34:59 +0000
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