Lentil market stabilizes in Canada after recent rise

18-Oct-2024 03:28 PM

Saskatoon. There was a slight increase in the price of lentils in the markets of Western Canada last week, but during the current week the market is seen to be calm to a great extent. Last week, the price of red lentils jumped to a high of 35 cents per pound (free on board), which fell to 33 cents per pound in the current week. However, its price is expected to reach 34 cents per pound for the February deal.

It is understood that after the escalation of Canada's dispute with India, some buyers have left the market and are waiting for the situation to normalize.

Although at present there is no impact on the trade relations of the two countries, but till the matter is completely resolved, anything can happen.

The Government of India has allowed duty-free import of yellow peas till 31 December 2024 and lentils till 31 March 2025 and both these pulses are exported to India from Canada in huge quantities.

The price of thick green lentils had also jumped to a high of 62 cents per pound, which has now softened to 60 cents per pound.

The price of small green lentils is slightly above 50 cents per pound. There are signs of buyers' interest in buying special varieties of lentils increasing once again. Under this, there is enquiry for the purchase of French green and block (Beluga) lentils.

The plant delivery price of French green lentils is being reported to be 47 cents per pound, while Beluga is being traded at a price level of 60 cents per pound.

Harvesting of lentil crop has ended in Canada, while it is going to pick up pace in Australia soon. Production has increased in Canada, but it is likely to decrease in Australia.

At present, the pace of lentil imports in India is slow and sowing for the new crop is about to begin. The government has a good stock of it, some part of which can be put up for sale in the open market anytime. Due to this, Indian traders are showing caution in importing lentils.