Indian Policy Changes Unsettle Peas
VANCOIUVER - Apr 2/11 - SNS -- International field pea markets finished the week's trading on an unsettled note against confirmation the Indian government will no longer subsidize all pulse purchases by state trading companies.
Prior to the change, state trading companies could buy pulses for resale to commercial markets at up to a 15% loss, with the government making up the difference.
Now, the government will only cover losses of up to 15% on up to 500,000 metric tons (MT) of pulses bought for use by the public distribution system.
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