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India's Budget Leaves Pulses Alone
VANCOUVER - Mar 1/13 - SNS -- International pulse markets were relieved to see that the proposed budget for India's 2013-14 fiscal year did not contain any changes which might impact trade in pulses.
Nothing was said about the import duty exemption for pulses, which was interpreted by both importers and exporters as a signal it would be extended for another year.
India's import duty on pulses was 5%, but it was reduced to zero to help lower the cost of imported pulses in an effort to limit food price inflation.
The budget indirectly encourages pulse production by increasing money available to programs aimed at crop diversification and to providing farmers with crop production loans.
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