Lentil Duty Reduction Extended
DELHI - Oct 28/20 - SNS -- The India government has extended the duty reduction on lentils until December 31, 2020.
With the change, basic import duties will remain at 10% for lentils from all origins except the United States. The basic duty for that country will stay at 30% until the end of the calendar year.
Many market participants expected duties to remain at this lower level, but thought it would come in rounds instead of simply being extended before the end of October.
The longer window for shipments to occur is welcome news to many exporters. When the current reduction was announced on September 17, transit times made it impossible for most to make new sales and ensure the lentils would arrive before October 31.
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