India may lower the quantity of imports of pulses and edible oil in response to non-availability of sufficient produce worldwide,which may in turn lead to increase in prices in the country in near future.
In India,the production of oil seeds and pulses are expected to be hit due to insufficient rainfall.The government planned to offset this by importing the produce.
However,this move might not be easy,as failure of rain in several countries such as the US,Korean peninsula,Russia,Sri Lanka and Ukraine,have affected the produce levels,reported the Deccan Herald.
Although private players in India have been allowed duty free import of pulses and edible oils,the government is not sure if the firms will be able to bring huge quantity of produce due to high prices globally.
The government plans to convene a meeting to regulate the export of wheat,rice and sugar,to ensure local availability.
Officials noted that if the rainfall does not improve significantly by the first week of August,there was a likelihood of 25-30%of the country being affected by drought.
