July 14, 2013
Pulses import fell 20 percent during 11 months of fiscal year 2012-13 as traders had stopped placing global orders for the commodity anticipating a “big” yield in the country, importers say. Importers continued speculating on the country’s better crop prospects this year, estimated at least one million tons of pulses production, which largely held them back to place more orders for the commodity during last fiscal year.
Pakistan imported $302.374 million of pulses during July-May period of fiscal year 2012-13 as compared to the commodity’s import in the same period during 2011-12, showing a fall of $75.365 million or 20 percent, Pakistan Bureau of Statistics indicate.
Wholesalers say the local production pulses are higher than expected which is hoped to bring down the prices of commodity with its improved supplies to local markets. They say the country’s pulses yield is about one million tons this year which is about 0.3 million tons greater than the local consumption. They say the pulses prices on the local market will also go down about 30 percent after the “huge” crop arrival.
This year, the wholesale rate of Daal Channa is Rs 62 per kg which last year was Rs 98 the price of Kabuli Channa is Rs 72 per kg came down from Rs 135 last year, they point out. In terms of volume, the country’s pulses import fell 150,409 tons or 26 percent to 434,781 tons during July-May 2012-13 from 587,190 tons during the same period of fiscal year 2011-12, the PBS suggests.
Pakistan imports pulses mainly from Australia, Burma, Tanzania and Ethiopia to meet local demand for the commodity every year. However importers say the import of commodity will reduce in next year as well. Wholesalers hope the fresh yield will help keep stable prices of pulses during the holy month of Ramazan. The country had lost the pulses crop because of the winter cold that reduced the yield phenomenally. Courtesy Business Recorder
Published in ZaraiMedia.com