Lentil market stable due to indication of better production

16-Sep-2024 08:26 PM

Baltinore. Due to indication of better production of lentil in Canada, Australia and America during the current year, its price in the international market has remained stable to a great extent.

In its last report, Canada's government agency - Stats Can had estimated an increase in the domestic production of lentil.

Now its new report is going to come on 16 September in which the production estimate will be shown on the basis of model. Usually, model based production estimate is considered closer to reality and producers, traders and exporters try to make their strategy accordingly.

Reviewers say that after the arrival of this report, a better picture of demand and supply of red lentil and green lentil can be seen in Canada. Canada remains the most prominent producer and exporter of lentil.

This year, the sowing area of ​​lentil in America jumped to 9,64,400 acres while its production is also estimated to increase to a height of 4.45 lakh tonnes.

Last year, lentil was cultivated in 5.46 lakh acres and its total production was limited to 2.60 lakh tons.

Due to excellent domestic production, America can not only increase the export of lentil but also succeed in reducing its import from Canada. However, the average yield rate of lentil in America has declined slightly.

As far as Australia is concerned, there too the production of lentil is estimated to increase from 15.78 lakh tons last year to 16.85 lakh tons this time, which will also increase its exportable stock.