Peas Firm Despite Huge Targets
PANAMA - May 29/16 - SNS -- Prices on international field pea markets were little changed through the past week against relatively good export movement and tightening stocks in net exporting countries.
Markets were unaffected by pulse production targets issued by India's agriculture department. It has set a goal for total food grain production of 270.1 million metric tons (MT) during the 2016-17 production cycle, which begins with this summer's monsoon or kharif season crop.
In announcing the coming season's production targets, the agriculture department said it wants to see a record 20.75 million MT pulses harvest: The current record is 19.24 million set in 2013-14.
Targets for other crops include 108.5 million MT of rice; 96.5 million MT of wheat; 35 million MT of oilseeds; and 355 million MT of sugarcane.
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