Latest Report on Peas | Yellow peas | Weekly Report | 06.01.20
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Peas prices are estimated at $220-$250 per tn in 2018-19 while masur prices are seen at $420-$450 per tn. Prices of peas and masur in Canada are, however, seen down from last year. In 2017-18, peas prices were at $265 per tn and masur were at $475 per tn. Peas prices are forecast to be lower from the previous year because of higher supplies and lower exports. Supply of peas is estimated at 4.1 mln tn and exports are seen at 2.8 mln tn. Despite a fall in the masur output, prices are likely to fall this year due to expectation of higher supply.
Export of peas by France was down 6% on month in June at 16,775 tn. On year, however, the exports were up 24%. As of June-end, inventories of peas in France were estimated at 285,495 tn, down 2% on year. Belgium was the most important destination, taking 10,560 tn. Netherlands was the second most important destination at 3,120 tn, followed by Italy at 1,535 tn and Spain at 587 tn. India is one of the largest importers of peas in the world, but due to imposition of import duty last year, imports have declined substantially.
Drought problems continue to plague the chickpea crop in Australia. The Australian Bureau of Agricultural and Resource Economics predicts this year’s chickpea production drop by 36 percent. Production is expected to drop by nearly 700,000 tonnes or 45 percent over last year. Lentils are also having a tough time. This year’s harvest is expected to fall by 41 percent to 338,000 tonnes. Drought in the US Northern Plains is cited as one of the key factors behind the drop. The total Canadian pea carryout for the current marketing year is projected to hit 400,000 tonnes, which would surpass the previous estimate of just 50,000 tonnes.
Canada exported 101,300 tonnes of peas during the week ended September 3. Dry bean crops in Manitoba are at, or nearing, maturity in most cases. Early harvest operations are underway in the Pembina Valley, with yields of 1,800 to 2,500 pounds per acre reported for pinto beans and 2,000 pounds per acre for cranberry beans.
India has bought 600,000-650,000 tonne yellow peas so far since April, almost the same level as the year-ago period. Roughly 300,000 tonne has been bought for the east coast so far, about 250,000 tonne for Mumbai and Mundra and the rest for other ports. While imports contracted in April were at a landed cost of about $340-$350 a tonne for the west coast, prices have since eased to about $325 a tonne. There is a possibility of prices easing by another $5-$10 a tonne in the coming months, as demand from India is seen lower this year due to ample supplies of other pulses in the country. India’s total pulses output was at a record 22.95 million tonne in the crop year ended June, up more than 40% from previous year.
Barring a rise in peas prices on mild demand from retailers, other pulses held steady at the wholesale pulses market in thin trade. Traders attributed the rise in peas prices to scattered demand from retailers.
Green pea bids range from C$8.00 to C$8.75 per bushel in Western Canada, while yellow peas range from C$7.98 to C$9.75 per bushel.