Black Sea wheat shipments to India threatened
KIEV/MUMBAI/MOSCOW, Nov 10 (Reuters) India decision to raise canada goose clearance its wheat and peas import tax will reduce the flow canada goose uk shop of wheat shipments from the main Black canada goose store Sea producers Ukraine and Russia and has already hit the Russian market for peas, traders and analysts said.
India has doubled its import tax on wheat to 20 percent on Wednesday, as the world second biggest producer tries to rein in imports to canadian goose jacket support local prices.
The move is a significant canada goose uk black friday blow for Ukraine, India largest supplier, and there are concerns that Kiev will now need to cut prices to compete more fiercely in other markets which could canada goose clearance sale be bad news for rivals canada goose black friday sale such as Russia and the European Union.
percent is basically a prohibitive tariff, and we are likely to leave the Canada Goose Outlet (Indian) market, Yelizaveta Malyshko at UkrAgoConsult consultancy said.
The tax hike by India will reduce Ukraine wheat supplies to the country this season to about 1 million tonnes from the previously expected canada goose uk outlet 1.5 canada goose coats million 1.6 million tonnes, a trader in Ukraine said. Ukraine exported Canada Goose online a total Canada Goose Parka of 5.8 million tonnes of wheat in July September, of which 360,000 tonnes uk canada goose went to India.
INDIA BUMPER CROP IN 2018 buy canada goose jacket cheap India imports wheat mainly from Ukraine, Australia, Bulgaria and Russia, and its supply cheap Canada Goose and demand cheap canada goose uk balance along with good prospects for the next year show Canada Goose sale that the decision on the wheat import tax is unlikely to be short lived.
monsoon rainfall was good in northern India, we are expecting another bumper crop in 2018, said an official with state run Food Corporation of India.
India had imported 5.75 million tonnes of wheat in the 2016/17 fiscal year ended on March, the highest since the 2006/07 season. Wheat stocks with government agencies stood canada goose clearance at 23.9 million tonnes as on Nov. 1, up 27 percent from a year buy canada goose jacket ago.
situation is very much comfortable now. Local crop Canada Goose Online can easily fulfil demand. That why government wants to restrict import and support farmers, said Harish Galipelli at Inditrade Derivatives Commodities.
Indian farmers have started sowing new season wheat that will be ready for harvesting from March. India wheat production rose to a canada goose factory sale record 98 million tonnes in 2017 after poor crops in 2015 and 2016.
duty hike has erased import parity. Imports from Ukraine or Australia have become expensive, said a dealer in Mumbai.
IMPORT TAX ON PEAS For Russian wheat, India is a small market with supplies of 56,900 tonnes in July September. However, there is a risk that Kiev will have to decrease its wheat prices due to the partial loss of the Indian market, increasing pressure uk canada goose outlet on the Black Sea prices, said Vladimir Petrichenko at ProZerno consultancy.
Russia is canada goose coats on sale expected to be affected more by India decision to impose a 50 percent import tax on peas, announced also on Wednesday, as prices of pulses fell below the government set support level in the local market.
Russia had exported 550,000 tonnes of peas since the start of the season on July 1, of which 27 percent were supplied to Canada Goose Coats On Sale India, Dmitry Rylko at the IKAR consultancy said.
India is the second largest market for Russian peas after Turkey, and the duty hike has already hit the Russian market, a Russia focused trader said.
knows where to sell their (Russian) peas now and there are not too many https://www.thecanadagooseoutlet.com options. A week ago, I saw bids at $230 240 per tonne, now they are at $180, the trader said.
According to the trader, Russian farmers will reduce their area under pea Canada Goose Jackets sowings in spring if the Indian import duty canada goose is not removed in the coming months. (Reporting by Pavel Polityuk in Kiev, Rajendra Jadhav in Mumbai and Polina Devitt in Moscow; writing by Polina Devitt; editing by Maria Kiselyova and David Evans).
