Highlights from the discussion on peas at SAAF 2025

22-Jan-2025 10:45 AM

Highlights from the discussion on peas at SAAF 2025
SAAF 2025 - Pea Panel
MODERATOR- Mrituenjay Jha, Zee Business, India
Panelist
Eduard Zernin, RUSGRAIN Union, Russia Federation.
Abhishek Agarwal, Vittera Bv, Netherlands
Harsha Rai, Mayur Global Corporation, India
Mukesh Jain, Adroit Overseas, Singapore
Vivek Agrawal, JLV Agro, India
Rahul Chauhan, IGrain India, India
★ India: Over the past 5 years, pea production in India initially increased but has recently declined. In FY 2023-24, imports are expected to reach 11 lakh tons, increasing to 19 lakh tons in FY 2024-25.
★ Pea availability is projected at 20.6 lakh tons in 2023-24 and 30.6 lakh tons in 2024-25, with consumption expected to be 15 and 22 lakh tons, respectively.
★ Stockpile: 5.6 lakh tons remained at the end of 2023-24 (up from 60,000 tons in 2022-23); 8.6 lakh tons expected by the end of 2024-25.
★ Major ports like Kandla, Hazira, and Mundra hold a stock of 7.66 lakh tons, with total port stock estimated at 10-11 lakh tons, sufficient for several months' consumption.
★ Rising imports have affected demand for other pulses, causing price crashes in international and domestic markets, stranding importers' capital. Green pea imports remain restricted.
★ From December 2023 to December 2024, India imported 29.5 lakh tons of peas. Prices have plummeted from ₹8600/qt (Jan 2021) to ₹3425/qt currently.
★ Farmers face low returns due to heavy imports. Although pea prices rose above chickpea levels after import restrictions, they have since declined.
★ Six notifications were issued regarding peas from September 2023 to February 2025, with large quantities of yellow peas dumped in India.
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Canada:
★ Yellow pea production in Canada was 23.74 lakh tons in 2024-25, with availability at 28.35 lakh tons. Exports stood at 19.65, 18.16, and 17.41 lakh tons in 2023, 2024, and 2025, respectively.
★ Closing stocks are expected to rise to 5.8 lakh tons in 2025 (from 4.84 lakh tons in 2024). India has surpassed China as the largest importer.
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★ Conclusion: There is minimal chance of a price increase in peas. Even if imports are restricted, it will take time to clear existing stockpiles. Caution is advised for trading on rising prices.