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Ag News

India slaps a 50% duty of Field Peas as market slumps

  • By: Farm Tender "Prime"
  • Nov 21, 2017

India’s government has imposed a 50 percent tariff on peas and a 20 percent tariff on wheat.

Since the announcement, Field Pea prices have dropped some $50/mt

Pulse prices in India are suffering because of a bumper harvest of all crops in 2016-17 and a good summer crop in the current crop year.

The country also still has substantial supplies of imported pulses.

The Times of India reports that as Indian farmers start seeding their winter crops the government wanted to provide positive price signals to increase production.

The duty on wheat is an increase from a previous duty of 10 percent. There had been no duty on peas previously.