India Will Import All Pulses Required
VANCOUVER - Jun 10/15 - SNS -- India's government says it intends to get into the business of importing pulses to help offset the impact on price of a sharp reduction in the size of the 2014-15 harvest.
Combined production of last year's kharif and this year's rabi pulse harvests are expected to plunge from 19.25 to 17.38 million metric tons (MT) on account of poor monsoon rainfall accumulations in key areas last year and unseasonably cold and rainy weather during the rabi cropping season.
Government officials believe this is at the root of an asserted 64% jump in domestic pulse prices. Government officials see at least two solutions to the problem -- have state trading companies import pulses to boost domestic supplies, and urge states to prevent speculators from accumulating long positions in physical stocks in the hope market values will rise.
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