India Wants to Import More Yellow Peas This Spring

Yellow Peas Prices Are on Fire: Traders Expect India to Open Import

Mintec Global
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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.

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