STAT Communications Ag Market News

Bearish Policy Changes

PANAMA - Mar 25/17 - SNS -- India remained the dominant topic in field pea markets through the past week, with industry participants within and outside the country anxiously waiting for official announcements on several issues.

Markets are confident India will extend the exemption which allows countries which have banned methyl bromide to ship cargoes without fumigating them at source. Instead, the cargoes can be fumigated on arrival, with the government charging importers a non compliance penalty.

The extension is not expected to be longer than six months, with the Indian government firmly stating that those nations must come up with an equally effective alternative fumigant within that time frame. At the same time, there are rumblings that the non compliance fee will jump from Rs 250 or U.S. $3.80 per metric ton (MT) to Rs 375 or $5.74 MT.

Only active subscribers can read all of this article.

If you are a subscriber, please log into the website.

If you are not a subscriber, click here to subscribe to this edition of the STAT website and to learn more about becoming a subscriber.