Global pulses trade to slow as India may boost production by 2030: OECD-FAO

Global pulses trade to slow as India may boost production by 2030: OECD-FAO

Subject: Agriculture

Context:

According to says OECD-FAO Agricultural Outlook 2021-2030 released earlier this week, the global pulse market that reached a volume of 92 million tonnes (mt) in 2020 – following an annual growth of 3 per cent during the previous decade – is expected to increase by 22 mt by 2030.

Regional Distribution:

• Almost half of the projected increase is expected to come from Asia, especially India, the world’s largest producer, processor, importer and consumer of pulses. India’s production which is currently in the 23-25 mt range is expected to expand by a further 6.6 mt by the end of this decade, the report has projected.
• The report observes that world pulses trade grew from 13 mt to 17 mt over the past decade and is projected to reach 19 mt by 2030. India’s recent efforts to become self-sufficient in pulses are cited as a major factor driving the anticipated slowdown in global pulses trade. Interestingly, the report forecast that imports by India are expected to level-off by 2030 at 5 mt.

Challenges for exporters:

• Canada and Australia will continue to remain two of the world’s largest exporters reaching volumes of 8 mt and 2.4 mt respectively by 2030. This means major origins will now have to start scouting for new markets in order to diversify the
• Pulses are expected to regain importance in the diets in many regions of the world. Global average annual per capita food use will increase by nine kg by 2030
• By far the largest producer, India accounted for 24 per cent of global production in the past decade, followed by Canada (8 per cent) and the European Union (5 per cent). As the Asian market accounts for more than half of all consumption but only about 45 per cent of production, it becomes the most significant import destination.