India will allow duty-free imports of yellow peas until March 31 next year. It was announced by the government in a notification late on Thursday, as New Delhi tries to cool the prices of pulses.
Most international traders and the biggest Ukrainian exporters expected this news since last week. Purchasing prices gradually started to increase as traders wanted to book more volumes for January and February 2024.
The situation has started to escalate over the last 2 days and almost stopped the local Ukrainian market. During 6th and 7th December purchasing prices for yellow peas increased from 260-300 USD/t or 241-279 USD/t and showed no signs of stopping. Thus, Ukrainian exporters immediately increased their offers to 420-440 USD/t or 390-408 USD/t with delivery to Middle East ports. At the same time, farmers just stopped their sales, expecting the maximum price to be fixed.
Friday 8th promises to be very active for traders, searching for big volumes of yellow peas. And next week will definitely continue the increasing trend for yellow peas, but without such big jumps as the running week.
Import/Export Statistics
Please click to reach our marketplace
The following reports may be of interest to you:
Related posts:
Pigeon Pea: Instability Arises as India Mulls Over MoU Cancellation
Largest Importers of Russian Legumes – Union of Grain Exporters
In Kharif Sowing Season Paddy, Pulses, Oilseeds Land Lags Behind While Sugarcane & Cotton Is Encouraging in India
India Unlikely to Permit Import of Yellow Peas
Pigeon Peas and Black Lentil’s Cost Leap by 8-10% In a Month
Ukaraine peas: Forcast Ukraine can export 350 thousand tons of peas
Yellow peas prices in Ukraine continue increasing trend.
black lentil and pigeon: India signs an MoU with Myanmar for lentils