India's changing market trends legumes
last week, the Indian government introduced a 50% import duty on peas that actually stop the import of the culture of the country. This solution collapses the world price of peas.
in addition, on November 16 the Cabinet Committee on economic Affairs decided to remove restrictions on the export of all types of legumes, including peas and lentils, against a record U.S. harvest 2016/17 MG and high carryover stocks, which represent 6 million tons, This will increase the margin of Indian pulse producers.
the Ban on the export of beans from India was introduced in 2006 after the rapid growth of prices on the domestic market due to the significant reduction in production volumes.
But now India is a importer of bean can become an exporter, which will further affect the world price of peas.
in Recent years, Ukraine considerably increased production and export of peas due to the introduction of new high yielding varieties. This was facilitated by the high world prices that last season at the port amounted to 280-300 $/t, at the beginning of this season started with 240 $/t and is now down to 190 $/t