Apr 28 th, 2018

Import NewsNo Comments

The import of Yellow Peas has been stopped for a three month period. The Directorate General of Foreign Trade (DGFT) has decided to implement this ban.

In the previous year, the center had imposed 50 percent import duty on the yellow peas. In December, a 30 percent duty was levied on the import of chickpeas and lentils. Duty on chickpeas was further increased to 60 percent in March. The import restriction had been applied to boost prices in the domestic market as the cheap imports will be stopped from entering the country.

The DGFT in a notification told that the import of Yellow Peas (Pisum Sativum) has been banned from 01st April to 30th June 2018 and subject to Policy Condition 4 of this Chapter.

The Policy Condition 4 tells that during the period from 01st April to 30th June 2018 only the total quantity of one lakh MT of yellow peas minus the quantity already imported from 01.04.2018 till date will be allowed against the license as per procedure to be notified by DGFT.

“Already Imported” will be including the import shipments that have already arrived from 01.04.2018 till 25.04.2018 and those shipments backed by Irrevocable Commercial Letter of Credit (ICLC) and Advance Payment made through Banking Channel before 25.04.2018. Both the latter categories will need to be registered with Jurisdictional Regional Authority as per Para 1.05 of Foreign Trade Policy, 2015-20.

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