Spot Pea Markets Jump
PANAMA - Apr 17/20 - SNS -- Field pea markets were strongly supported by relatively strong short term demand and tightening stocks in net exporting countries during the past week. Even so, some pessimism is brewing around future demand.
Market participants worry the medium to long term demand outlook will not be helped by news that the Indian government adjusted both import quotas for peas and the way in which duties will be calculated.
Quantitative import restrictions for peas during the country's 2020-21 fiscal year were changed to 75,000 MT of green peas under HS-Code 07131020 and 75,000 MT of other peas under HS-Code 07131090. The import quota for yellow peas under HS-Code 07131010 was changed to zero.
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