Duty on Wheat Imports After raising the 2017/18 Minimum Support Price (MSP) for wheat by 6.8 percent to Rs.17,350 ($266.19)/MT in a signal to farmers, the government of India (GOI) doubled the import duty to 20 percent. Imports had continued even after the 10 percent rate was imposed in March 2017, although at a slower pace. Those shipments were mostly intended for the flour mills in south India, primarily Tamil Nadu, Andhra Pradesh and Karnataka. It is estimated that India produced 98.38 MMT of wheat in 2016/17, and there is hope that the new prices will incentivize farmers to grow more. Per the first advance estimates for 2017/18, the wheat production target is fixed at 97.5 MMT. Meanwhile, traders believe that the boost in the MSP coup...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Dry bulk markets remain mixed with Capesize vessels seeing continued pressure from weaker demand while fixtures and rate strength gradually increases towards the smaller vessel classes. Tanker markets are pulling back from their recent highs as tonnage moves out of the Mid...
Illuminating the value of technical research
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