STAT Communications Ag Market News

Easier Tone in Lentils

PANAMA - Feb 3/18 - SNS -- Both green and red lentil markets finished the week's trading on an easier note, with recent price advances pushing available supplies ahead of the short term needs of buyers.

Markets were not helped by news that the effective cost to India's importers will increase from 30.9% to 33% because of a change in the levies assessed on import duties. The recent budget removed the 3% education levy, but added a 10% social surcharge levy on duties paid.

This offset some of the psychological impact of early talk that the risk last year's drought will persist through seeding in parts of North Dakota and Montana.

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