Government extends import restrictions on peas till Dec 31
The existing restriction is scheduled to end on September 30.
NEW DELHI: In a move to curb cheap imports of peas in the wake of surplus production of the commodity in the country, the government has again extended the import restrictions on peas, including yellow and green peas, for another three months till December 31 this year.
"Import of peas...(including Yellow peas, Green peas, Dun peas and Kaspa peas) is restricted till December 31, 2018," Directorate General of Foreign Trade (DGFT) said in a notification today.
Last year, the government had imposed 50% import duty on yellow peas. Other pulses, however, attract zero duty.
The existing restriction is scheduled to end on September 30.
“There is a surplus of peas from last year and the production has been good this year. Also, prices are stable,” said an official in the know of the details.
Moreover, it is the government’s effort to reduce avoidable imports to stop outflow of foreign exchange and control the expanding current account deficit that has promoted the extension, the official added.
India is the largest producer of pulses in the world.
The target for pulses production is 24 million tonnes for 2018-19, marginally up from 23.95 million tonnes in 2017-18.
"Import of peas...(including Yellow peas, Green peas, Dun peas and Kaspa peas) is restricted till December 31, 2018," Directorate General of Foreign Trade (DGFT) said in a notification today.
Last year, the government had imposed 50% import duty on yellow peas. Other pulses, however, attract zero duty.
The existing restriction is scheduled to end on September 30.
“There is a surplus of peas from last year and the production has been good this year. Also, prices are stable,” said an official in the know of the details.
Moreover, it is the government’s effort to reduce avoidable imports to stop outflow of foreign exchange and control the expanding current account deficit that has promoted the extension, the official added.
India is the largest producer of pulses in the world.
The target for pulses production is 24 million tonnes for 2018-19, marginally up from 23.95 million tonnes in 2017-18.