An Indian news service report late last week gave hope that the fumigation deadline that threatens to impede Canada-India pulse trade might be extended again.
The Press Trust of India re-ported that a senior agriculture ministry official said Canada’s fumigation exemption might be continued “after looking into our production and import data.”
Canadian Agriculture Minister Lawrence MacAulay is in India this week as part of a trade mission.
The report also said the India Pulses and Grains Association asked the agriculture ministry to extend Canada’s exemption. Without it, pulse exports to Canada’s top buyer would become more complicated and costly.
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Recently the Chinese ambassador indicated that there would be a potential deal between Canada and China regarding the current tariff war.
Canadian farmers can ill afford a trade disruption.
Global crop prices are falling as South American farmers harvest what appears to be a record large soybean crop. Seeding of second crop corn in Brazil is advancing nicely.
Fall-seeded wheat crops in the Northern Hemisphere appear to have come through winter largely unscathed, raising the potential for a bumper harvest adding to the wheat oversupply.
The U.S. Department of Agriculture last week forecast 2017-18 American soybean area at a record 88 million acres, up 4.6 million from last year, and corn at 90 million, down four million from last year.
The forecast held no surprises but served to remind the market of the potential for further ample crop supplies in 2017.
