India to purchase pulses, wheat from Russia
The grain import decision can be announced as early as by the end of June, the official said
India is considering the opportunity of long-term purchases of pulse crops and wheat from Russia but final decision is likely to be made only when the next Government is formed by PM Modi.
India is seeking after provision of its own food security. India had almost halted grain imports from other countries since 2018 as local production was high and reserves were overflowing. India was also exporting its bumper surpluses. However, there was a shortfall in grain harvest last year due to rise in temperature ; yield forecasts are also negative for this year. T, Reserves have been used to supply free rations to the needy. Therefore, India is considering an option of buying grain from abroad, primarily in Russia. This will ensure price stability from October onwards till the next harvest.
The possibility of authorizing grain purchases, including in Russia, was also analysed last year. India managed to solve the poor harvest problem at that time, including by the ban on rice exports. However, the probability of having crop setback is again predicted to be high due to strong heat affecting North India.
The issue will probably be resolved after national parliamentary elections. Results are to be announced on June 4. The grain import decision can be announced as early as by the end of June, said an official.
“I believe however that if the wheat import decision is made, and the probability for that is rather high, it can be temporary by nature. India may open the country to foreign wheat until the situation with local grain normalizes,” he added.
“India is at the same time already discussing with Moscow the possibility of entering into a long-term agreement on imports of pulse crops from Russia, pea and lentil in the first instance,” the source noted. The Indian side hopes that such talks may lead to entering into an agreement on mutual preferences in agricultural trading, he added.
India has started purchasing substantial amount of pulses like Chickpeas from Australia.
