Disappointment In Lentils
PANAMA - Mar 9/25 - SNS -- Lentil markets finished the week on a somewhat disappointed note, following India's decision to impose an effective import duty of 11%.
The charge is made up of a basic import duty of 5%, a 5% Agriculture Infrastructure and Development Cess, and a 1% Social Welfare Surcharge.
The India Pulses and Grains Association (IPGA) was expecting import duties to be placed on lentils because prices offered farmers for product from this year's rabi season harvest have fallen below the minimum support price (MSP) in many regions. However, the group though duties would be in the range of 25% to 30%.
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