India Pulse Imports Surge 67% to 2.06 Million Tonnes on El Nino Weather Concerns
India's pulse imports surged 67% year-on-year to 2.06 million tonnes during the April–August period of the current fiscal year, up sharply from the previous year, according to trade data highlighted by commodities brokerage Kedia Advisory. In value terms, shipments expanded 38% to $1.18 billion, reflecting robust domestic procurement alongside relatively moderated global baseline prices earlier in the season.
The dramatic uptick in import volumes has been driven primarily by domestic supply apprehensions linked to uneven rainfall distributions and prospective El Niño-induced weather shocks across key pulse-producing heartlands such as Maharashtra, Karnataka, and Madhya Pradesh.
Surge Across Key Pulse Varieties
The expansion in inbound shipments was led by significant volume increases in key lentils and pea varieties:
- Masur (Lentils): Inbound shipments jumped 200% year-on-year to 0.64 million tonnes during the five-month span.
- Yellow Peas: Imports surged 114% to 0.62 million tonnes.
- Tur (Pigeon Pea): Shipments climbed 10% to 0.35 million tonnes to plug domestic shortfall.
Despite the pickup in overseas supplies, domestic retail prices have remained firm. Data from the Department of Consumer Affairs' price monitoring cell reveals that average retail prices of tur reached ₹132.75 per kg, up 15% year-on-year. Average retail prices for chana (gram) rose 7.5% to ₹93.48 per kg, while urad prices rose 10% to ₹125.46 per kg.
Weather Risks and Buffer Dynamics
More than 80% of India's pulse acreage is rain-fed, leaving crops like tur and urad exceptionally sensitive to precipitation anomalies during the southwest monsoon. Although total kharif pulse sowing edged up 1.42% year-on-year to 11.84 million hectares, spatial disparities in rainfall across western and southern states have kept mandi arrivals constrained.
The central government currently holds a pulse buffer stock of approximately 4.5 million tonnes, which officials believe will help dampen aggressive price spikes during the festive season. Because of these buffer reserves and existing international supplies, policymakers appear unlikely to slash duties further. The current tariff architecture maintains a 30% import duty on yellow peas and a 10% duty on lentils, while duty-free windows for tur and urad remain open until March 2027 to encourage merchant imports.
Global Pricing Pressures and Outlook
Trade sources and the India Pulses and Grains Association (IPGA) caution that the breakneck pace of import growth could moderate over the second half of the fiscal year. Export quotes for Canadian yellow peas and lentils have firmed sharply due to freight bottlenecks and Russian supply disruptions. Concurrently, currency depreciation has increased landing costs for private millers.
For Indian equity and commodity investors, the persistent firming of pulse prices keeps food inflation under close watch by the Reserve Bank of India, potentially delaying monetary easing cycles while raising input costs for packaged food and consumer staples companies.
