MarketsFarm — India is temporarily reducing import tariffs on lentils originating from most countries.
The India government’s Central Board of Indirect Taxes and Customs on Tuesday posted “Notice 26/2020-Customs,” which lowers import taxes on most lentils entering the country, from 30 per cent to 10 per cent.
The reduction, which takes immediate effect, runs until Aug. 31, 2020.
However, lentils “originating in or exported from the United States” will still face 30 per cent tariffs.
Canada has exported about 400,000 tonnes of lentils to India during the 2019-20 crop-year-to-date, according to Canadian customs data. That compares with total lentil exports to all countries of 1.54 million tonnes.
India’s finance ministry had imposed its tariff on lentils in late 2017, saying cheap imports were “likely to adversely affect the interest of the farmers” following a productive growing season.