Canada Market
15-Mar-2025 01:48 PM
Canada Market
Peas★ Volatility was observed in the pea markets this week. India has reintroduced duty-free imports of peas until May 31, 2025.
★ China has decided to impose a 100% tariff on Canadian peas.
★ This move by China could have a significant impact on the Canadian pea market.
★ Additionally, if the U.S. also imposes potential tariffs, export opportunities will become even more limited, worsening the situation.
★ Due to these changes, many farmers are reconsidering pea cultivation and exploring other pulse crop options, while buyers are withdrawing from the market.
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Lentils
★ Weakness continues in the lentil market this week.
★ The import duties imposed by India are unlikely to significantly affect trade, but could increase pressure on prices.
★ Prices of new small and large green lentils have started to gradually decline due to weak buying.
★ Sales of new small green lentils from producers are slow, with prices falling below 40 cents/lb (FOB farm).
★ Current prices for old large green lentils are 55 cents/lb (delivered) and for old small green lentils are 52 cents/lb (delivered).
★ The red lentil market also remained weak this week. Prices for new red lentils are around 29 cents/lb (FOB farm), while old crop red lentils are priced at 32-33 cents/lb (FOB farm).
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Kabuli Chickpeas
★ The Kabuli chickpea market remains soft this week both in North America and globally. Supply is high, and acreage is expected to increase.
★ In the U.S., chickpea acreage is projected to be the highest since 2019, which may further pressure the market.
★ Last week, old crop Kabuli chickpeas (high percentage 9mm caliber) were priced at $0.38–$0.39/lb (FOB farm), but no confirmed deals have been reported this week.
★ Some interest is being shown in bids for the new crop at $0.35/lb (FOB farm).