The price of yellow peas is likely to be affected due to the excellent production of gram in Australia.
11-Jun-2024 01:41 PM
New Delhi. Australia's government body - Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) has estimated that the production of gram in Australia will increase to a high of 11.50 lakh tonnes during the 2024-25 season,
due to which the business and price of yellow peas of Canada is likely to be affected this time and especially its export to India is likely to be deeply affected.
The Government of India has made the import of yellow peas and Desi gram duty free till 31 October 2024, whereas earlier customs duty of 55 percent and 66 percent respectively was applicable on it.
On the other hand, there is a possibility of a good increase in the production of yellow peas in Canada, while production in Russia is expected to remain normal. In this way,
Canadian yellow peas will have to face strong competition on both fronts. There are chances of huge imports of yellow peas from Russia and Desi gram from Australia in India,
due to which Canadian exporters will not get an opportunity to arbitrarily increase the price of their product. On the other hand,
China is also trying to reduce its dependence on Canada in the import of yellow peas, due to which its import from Russia is increasing drastically. In such a situation, the pressure on the prices of Canadian yellow peas will naturally increase.
The production of gram in Australia was stuck at around 5.40 lakh tonnes during the 2023-24 season, while the estimated production of the 2024-25 season is more than double that. According to ABARES,
the production of gram in Australia increased to an all-time high of 20 lakh tonnes in the 2016-17 season, while the potential production of the 2024-25 season may be the second largest.
Industry-trade analysts say that this time the total production of gram in Australia may be more than the government estimate. In the northern part of the country,
farmers are giving priority to the cultivation of gram instead of cereal crops. According to an analyst, the total production of gram in Australia during the 2024-25 season may be between 73 to 16 lakh tonnes.