The country is likely to import about 80 percent of pulses required for meeting local consumption after the local crop was devastated by frost in winter last year, importers said on Sunday. "Around 80 percent of pulse crops were destroyed by cold weather in winter last year and the country will now have to import the commodity to satisfy the local demand," a leading importer, Anis Majeed, told Business Recorder.
He said that the country consumed 600.000 tons of pulses every year, necessitating the import the commodity in bulk because of last year's crop failure.
Highlighting the risks, he said that dwindling rupee-dollar parity posed a major threat to pulse prices at import stage. "The increase in value of dollar against the local currency could spur price of pulses at retail stage," he feared.
He said that the country mostly imported pulses from Australia, Burma, Tanzania and Ethiopia.
Anis said that although pulses had already been exempted from import duty, the government's move would have no impact on its price in the local market.
Domestic import of pulses slumped by 49,591 tons or 9 percent in the first 10 months of the current fiscal year to 502,426 tons, declining from 552,591 tons in the same period last fiscal year, the official figures show.
In terms of value, Pakistan imported pulses worth $320.269 million in the first 10 months of the current fiscal year, posting a reduction from imports worth $344.607 million in the same period of the last fiscal year. This trend depicted a decline of $24.338 million or 7.06 percent, statistics showed.
Terming the decline in pulse imports a short-term glitch, Anis Majeed said that the trend would soon swing up in the absence of local crop yield this year.
On a month-on-month basis, the country's import of pulses stood at 54,383 tons in April this year, against imports of 46,179 tons in March this year, showing an increase of 8,204 tons or 18 percent, the statistics indicate.
On a value basis, Pakistan imported pulses worth $37.899 million in April this year against imports of $34.802 million in March this year, indicating an increase of $3.097 million or 5.37 percent, data showed.
According to statistics, the country's import of pulses rose by 3,191 tons or 6.23 percent in April this year, increasing from imports of 51,192 tons of pulses in April last year, according to statistics.
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