USDBC Explores Opportunities at India Pulse Conclave

Three dry bean industry representatives and our on the ground representative, Shakun Dalal, attended the Pulse Conclave in Jaipur, India to explore opportunities in this dynamic and complex market. The Conclave drew a record 1,200 delegates who came to hear about India’s anticipated pulse crop shortfall and forecast for imports. This outlook was presented against a backdrop of ongoing controversy regarding pulse hoarding by a few Indian buyers and the subsequent imposition of stock limits by the Indian government.

India has now had two consecutive harvest cycles with below average production due to weather conditions. Government reports note that the last two years have presented a crop shortfall of over 2 million MT below the 2013-2014 levels. Conclave speakers forecast that there will be stock shortages as early as June and planting for the coming months has been delayed.

Imports are at a virtual standstill and not many orders are being placed but as the pipeline dries up, pulse prices will skyrocket again. Importers are extremely concerned about pulse stock limits in place and the general disruption to the pulse supply chain during a time when India needs to import. The general market disruption makes it difficult to predict potential dry bean purchases. Industry representatives are optimistic about the contacts established and the foothold that we were able to gain in this market in a year that presents several opportunities for sales.