Saskatchewan farmers are worried about the market impact from new tariffs in India on imported wheat and peas.
In a move to support domestic prices, India has bumped tariffs on wheat by 20 percent and on peas by 50 percent.
Market Analyst, Errol Anderson of ProMarket Communications is worried prices may be under pressure from the trade protectionism.
“Where the pulses are in India right now they’ve had pretty good crops and their need for Canadian Yellow Peas at the moment is fairly low. So unfortunately though it’s going to put pressure on prices I believe heading into the new year,” Anderson said.
Anderson anticipates a difficult market into the first three months of 2018 but demand should pick up.
Peas dropped over 30 dollars a ton in Canada on Thursday.
(Files from Jim Smalley and CJGX Yorkton)