India continues lentil purchases from Canada to bolster buffer stocks

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Despite the deteriorating diplomatic relations between New Delhi and Ottawa, the Indian government is continuing its purchases of lentils from Canada as it aims to bolster its buffer stocks to address the rising prices of pulses in the domestic market, said sources familiar with the matter.

Two central government agencies, namely the National Cooperative Consumers’ Federation of India Ltd (NCCF) and the National Agricultural Cooperative Marketing Federation of India (NAFED), have recently issued tenders to procure red lentils (masoor whole) from the local market and through imports in an effort to stabilise prices, as reported by Economics Times.

Starting earlier this month, these two agencies have collectively been issuing tenders four times a week to procure lentils. The reduced acreage due to erratic monsoons in key growing states this year has led to an increase in prices of this protein-rich staple.

Canada’s Food Exports to India Slow Down | Vantage with Palki Sharma

Canada was the biggest supplier of lentils to India during India’s 2022-23 financial year ended on 31 March with shipments of 485,492 metric tonnes worth $370 million (Rs 3,079 crore), accounting for more than half of India’s total lentils imports, according to data from India’s trade ministry.

The trend had been continuing, with India’s imports of Canadian lentils from April to July jumping 420 per cent from a year ago to 190,784 tons, the trade ministry data showed.



from Firstpost India Latest News https://ift.tt/N3Uyu59
FP Staff

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