India turns to Russia for massive food imports amid shrinking reserves
India is set to boost its imports of key food staples in the coming year. The government has removed duties on yellow peas and may need to bring in millions of tons of wheat. These moves aim to address declining grain reserves and rising demand. In December 2023, India scrapped import duties on yellow peas until October 31, 2024. Since then, the country has already brought in 570,000 tons from Russia by the end of April. Officials now expect total yellow pea imports to reach 3 to 3.5 million tons during this duty-free period. With domestic production estimated at just 750,000 to 800,000 tons, Russia is becoming a major supplier to meet demand.
India's wheat situation also looks tight. The country consumes 95 to 100 million tons annually, but government grain reserves have been shrinking. As a result, officials may need to import 3 to 5 million tons of wheat in 2024. Russia could play a key role in filling this gap as well. The duty-free window for yellow peas runs until late October, giving India time to secure large shipments. With wheat imports also likely, the country is turning to Russia for a steady supply of both commodities. These steps come as domestic stocks remain under pressure from high consumption and lower reserves.
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