News Capsule: Pulses Market: Chickpeas Steady, Yellow Pea Interest Rises
★ The chickpea market remained steady for the second consecutive week. Harvesting is underway in Canada, with farmers focusing on creating storage capacity. In Australia, concerns over production are increasing due to both rainfall and heat. Demand for larger-sized chickpeas remains strong. In Canada, #2 chickpea prices were around $0.24–$0.27 per pound FOB farm.
★ Buying interest in yellow peas increased this week, with prices reaching up to $8 per bushel for September delivery. Green peas were priced at $8–$8.50 per bushel, while maple peas were at $9–$9.50 per bushel. Yellow pea yields are expected to be 4–5 bushels per acre lower than initial estimates. Prices for yellow peas have also strengthened in India.
★ As of August 24, 48% of Canada’s lentil harvest had been completed. Further harvesting delays are possible due to rainfall. In India, the monsoon has been around 13% below normal, raising concerns that pulse production could be affected. This could lead to higher Indian import demand going forward.
