India inks deals with Brazil, Argentina for pulses import
India is diversifying its import of pulses to maintain domestic prices by entering into long-term deals with Brazil and Argentina. The country is expected to import over 20,000 tonnes of black gram (urad) from Brazil and unspecified amounts of pigeon pea (tur) from Argentina to meet its domestic requirements. Retail inflation in pulses remains high, but it slowed to 17.71% in March. The Reserve Bank of India's monetary policy committee highlighted how food price pressures have interrupted the ongoing disinflation process, posing challenges for the final descent of inflation to the target of 4%. India's output of pulses dipped to 23.4 million tonnes in 2023-24 from 26.1 million tonnes a year ago. A campaign by the central government to ramp up local production saw total output jump 37% since 2015-16, helping to cut costly imports. However, the country has to rely on foreign shipments to meet total demand. In 2023, India imported nearly 3 million tonnes of pulses, mostly lentils, black gram, and pigeon peas, from Canada, Australia, Mozambique, Tanzania, Sudan, Malawi, and Myanmar. The federal government has imposed measures to tame prices ahead of a general election to keep basic food commodities affordable.
