Market Worries As India's Confidence Rises
PANAMA - Mar 12/17 - SNS -- International field pea markets remained in a tense mood as India continues to show more confidence in its ability to cover a greater proportion of its pulse need through the balance of the year.
Several decisions need to be made by March 31, including whether or not to grant Canada another extension allowing it to ship pulses without first fumigating them with methyl bromide. It needs to be stressed that silence means the exemptions ended.
Several market participants in India believe there is also a strong possibility will not grant another extension to the duty free period for pulses. If the current exemption is allowed to expire, import duties will return to 5%.