STAT Communications Ag Market News

Window For New Sales to India Closing

PANAMA - Nov 14/20 - SNS -- International lentil markets finished the week's trading on a mixed note, with average bids to farmers trending lower as companies cover their short term needs.

Export markets were also mixed on the week, with red lentils showing some strength in Canada, while easing in Australia as harvest selling pressure gains momentum.

The window of opportunity to make new sales to India to take advantage of reduced import duties through the end of the year is effectively closed for most exporters because the time needed to move product from origin locations to India.

Time is against most exporters because of the need to accumulate product from farmers, clean it to contract standards, obtain inland transportation, and get it loaded on ships which will leave the port with enough time to arrive at Indian ports.

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