Global Pea Market Likely to Remain Strong in the Near Term

Vancouver: Despite a drop in production, the supply and availability of peas in Canada and the US remain comfortable, supported by substantial carryover stocks; however, global demand is strong due to disruptions in shipments from Russia and Ukraine. Consequently, pea prices saw some improvement last week. Trade analysts predict that pea prices in Canada are likely to remain firm in the near future.

According to data from the Canadian Grain Commission (CGC), producers supplied 40,000 tonnes more peas to primary elevators for export purposes by the third week of September during the current marketing season compared to the same period last year. This indicates two things: Canada holds adequate pea stocks, and producers are receiving profitable prices.

Major importing nations like India and China are currently prioritizing pea imports from Canada due to insufficient supplies from Russia. Demand for peas is rising across Asian and European countries. There has also been a 40,000-tonne increase in the bulk clearance of peas from Canada for export. The US holds surplus pea stocks, so it will not need to import peas from Canada.