India Continues to Dominate Markets
PANAMA - Oct 26/15 - SNS -- International field pea markets continued to pay close attention to events in India through the past week.
Last week's seizures of almost 75,000 metric tons (MT) of pulses which government officials said were being hoarded attracted the attention of markets, creating some concern over the impact it might have on outstanding contracts.
Importers want to be exempted from the anti-hoarding rules, implying it could make large importers avoid buying large cargoes of pulses.
Representatives of the importers association met with India's finance minister last Friday to press their case. During the meeting they offered to make 100 MT of tur dal available each day at Rs 135 per kilogram, Markets for that commodity have pushed past Rs 200 per kg.
On the supply side, markets were surprised by the speed by which seeding of this year's rabi season crops got underway. As of October 23, an estimated 983,000 hectares of pulses have been planted, up from 475,000 last year and the previous five-year average of 651,000 hectares.
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