Following multiple rounds of discussions, India is diversifying its pulse imports to maintain stability in domestic prices. This is being done by signing long-term agreements with Brazil and Argentina, according to two officials with knowledge of the situation. In order to meet its domestic needs, the largest consumer and producer in the world is anticipated to import over 20,000 tons of black gram (urad) from Brazil at present and an unknown quantity of pigeon pea (tur) from Argentina.
According to official data, retail price increases in pulses dropped to 17.71% in March from a jump of 18.9% in February, although it is still high. The Reserve Bank of India's monetary policy committee noted on April 6 that pressures from food prices "have been interrupting the ongoing disinflation process, posing challenges for the final descent of inflation to the target of 4%," while maintaining the repurchase rate at its current level.
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Pulse output edges higher in 2022-23, weather remains a concern
Pulses were produced in 2022-2023 at a total of 27.5 million tonnes, which was a little bit more than the 27.3 million tonnes produced the year before. According to data from the agriculture ministry, a campaign to distribute better seeds increased pulse efficiency by 34.8%, from 727 kg per hectare in 2018-19 to 980 kg per hectare in 2021-2022. However, the gains can be brittle. If supply declines, rising weather uncertainty can swiftly drive up costs. The uneven monsoon in rain-fed farming regions of Karnataka, Andhra Pradesh, and Telangana last year contributed to the increase in prices of black gram and pigeon pea. Pulses' decreased output means they will still be a cause of inflation. Because of this, the government may take a number of actions, such as imposing stock limitations, according to Comtrade analyst Abhishek Agrawal.
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