India Creating Pulsed Buffer Stockpile
DELHI - Dec 1/15 - SNS -- India's government is accumulating a modest quantity of kharif season pulses for use as buffer stocks. Pulses accumulated under the plan will be disposed off within one year of the end of procurement period.
Procurement of Tur and Urad for the buffer stock in the current Kharif marketing season by National Agriculture Cooperative Marketing Federation of India (NAFED), Small Farmers Agri-Business Consortium (SFAC) and Food Corporation of India (FCI) at prevailing market prices is being done with assistance from Price Stabilization Fund (PSF).
NAFED and SFAC have been directed to procure 30,000 metric tons (MT) of Tur and 10,000 MT of Urad at an estimated cost of Rs.350 crore or U.S. $52.5 million, while Rs.50.0 crore or $7.5 million have been released to FCI for undertaking the procurement.
Argentine Tax Changes May Not Help Pulses
BUENOS AIRES - Dec 1/15 - SNS -- Changes which will affect Argentina's posture in export markets are coming, but the impacts on pulse trade could take longer to materialize because of the challenge of freeing exchange rates.
By contrast, grain and oilseed markets will see some immediate impacts of the change in government, with incoming Agriculture Minister Ricardo Buryaile saying export taxes on wheat and corn will be abolished effective December 10, while the export tax on soybeans will be reduced in stages.
At the moment, the export taxes total 23% on wheat, 20% on corn, and 35% on soybeans. After December 10, they will be zero on corn and wheat, but only drop five points to 30% on soybeans.
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