Ultimately, even though India is seeing an early start to the monsoon season, the lower production and high demand expectations are a bit bullish for peas.
What are the actual grain market analysts in India saying about the effect of the Indian import taxes on peas? Has the government not thought this through?
It looks like pulses, including peas, are the major losers in the battle for acres in Australia this year. The outlook for Australian peas is quite bearish.
In India, food production is slated to be up 0.9% this year.
Specifically as it relates to pulses, volumes are forecasted to grow by 3.5%.
What’s this mean for peas prices?
While there were some distractions to Prime Minister Trudeau’s recent visit to India, we have to agree that it did open up some issues on pulses.
After a few weeks without rain and Canadian PM Trudeau there face-to-face this week, is India starting to come its senses about pulse import taxes?
Agriculture & Agri-Food Canada recently released its Outlook for the 2018/19 crop year.
For peas, it looks like their forecast is the same as ours: a bit bleak.
India’s 50% import tax on peas introduced in early November 2017 was certainly a punch to the gut.
But they’re actually within their rights to do so. So should we complain?
2017 for pea prices pulled back from the record action in 2016. Further, new government policies have severely impact prospects.
With a import tax from India out of the way, yellow peas prices are bouncing up again.
How much higher could they possibly go?
After India implemented a 50% import tax on peas, bids worldwide dropped like a baby giraffe out of the womb.
Can you guess what we’re seeing now though?
With the introduction of India’s 50% import tax on peas, the usual opportunities for yellow peas don’t readily exist this year.
With India’s new tax import tax on peas, the government is leaning more than ever on its farmers to bring home a big pulse crop in 2018.
There’s some buzz about changes to India’s government policy towards pulse imports.
Specifically, to help support domestic prices, an import tax may be invoked.
But which crops would be affected?