THE BIG PICTURE
government’s Third Advance Estimate of 11.58 MMT. The trade estimate would leave a deficit between 1-1.5 MMT. Despite the government imposing stock limits and declaration on pulses in June, keeping prices under control in such a tight supply situation is difficult. With the window of duty-free imports of yellow peas open until October 31, 2024, procurement of both pulses has continued apace as India enters a high demand season. The IPGA puts current imported yellow pea stocks at 850,000 MT on June 15, and suggests that more is to come. However, pressure from traders to impose a duty on imports has been reported in the Indian press. A June 6 report on livemint.com reported that the Price Stabilization Fund (PSF) was being used to procure from Indian farmers and various farming associations at the minimum assured procurement price
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