Import NewsNo Comments
The center has decided to extend the restrictions on the import of peas in India till the end of December 2018 to cut down the cheap incoming shipments as the commodity is produced within the county as a surplus. The peas include the yellow, kaspa, dun and green ones as well.
DGFT (Directorate General of Foreign Trade) announced in a notification that, “Import of peas… (Including Yellow peas, Green peas, Dun peas and Kaspa peas) is restricted till December 31, 2018.”
The government had decided to slap a 50% duty on import of yellow peas last year. The other pulses were not being charged any duty. The earlier restrictions were going to end on September 30 but the government extended the restrictions and bring under peas under the conditions as well.
The pea production in the country has been good and there is a surplus of peas in stock from last year production as well.
The government is working to stop the outflow of foreign exchange wherever possible to reduce the increasing current account deficit.
India is the world’s largest producer of pulses. Pulse production target for 2018-19 is 24 million tonnes. In 2017-18, this target was 23.95 million tonnes.