look news india
Mumbai: After India's decision to cancel the import duty on indigenous gram, domestic market circles said that the global price of indigenous gram has increased by eight to ten percent.
In the decision taken on Friday, the Government of India has exempted domestic gram from import duty.
India imports its desi or Bengal gram mainly from countries like Australia and Tanzania. Import duty has been exempted as part of keeping prices under control by increasing domestic supply.
Australian farmers have been encouraged to harvest more domestic chickpeas in anticipation of an increase in demand due to India's decision. From the information received, a local businessman said, Australia will harvest more in anticipation of increased demand from India.
Gram cultivation is currently going on in Australia and will continue till the end of May. With the abolition of import duty on gram, market circles believe that the supply of imported gram in the country will increase and Indian farmers will also reconsider the gram crop.
Sources also said that the global price of gram, excluding import duty, which was reported at $720 to $730 per tonne, has increased to around $800. Keeping in mind the situation of production of agricultural commodities, the Government of India keeps making changes in the import and export of its agricultural products, which impacts the prices of agricultural commodities in the international market.
Fresh gram from Australia starts arriving in India from November. When Ravi sowing work starts in India. The annual demand for gram in India is around 90 lakh tonnes while the production of gram in 2023-24 is estimated to be 80 lakh tonnes.