Pea imports may increase if the deadline for duty-free import is extended

07-Sep-2024 07:47 PM

Mumbai. Government agency Stats Can has estimated the production of about 30.10 lakh tonnes of peas in Canada during the current season, which is 15 per cent more than the previous season.

This includes the potential production of 15-20 percent green peas and 80-85 percent yellow peas. Bulk exports of peas from Canada have not yet picked up pace in the 2024-25 crop year, which is unusual.

The reason for this is believed to be policy uncertainty in India and China and the strike of railway workers in Canada. India and China are the two most prominent buyers of Canadian peas.

Trade disputes have increased between China and Canada, while the deadline for duty-free import of yellow peas in India is only till October 31, 2024.

According to trade analysts, if the deadline for duty-free import in India is extended beyond October 31, then a new round of demand may start and then the chances of pea prices remaining strong in the exporting countries will increase.

But if the deadline is not extended, the price of peas in Canada may fall. Canadian exporters will have to struggle hard to find a huge market like India.

According to the review, importing and exporting countries are very cautious and are waiting for the whole scenario to become clear.

This time there has been a slight increase in the area of ​​peas in America, while in Russia the crop was affected by bad weather.

America is expected to produce 70 percent yellow peas and 30 percent green peas. The production of peas there is estimated to be 7.95 lakh tons, which is slightly less than last year.

As far as Russia is concerned, its pea exports to the European Union are likely to stop, so it will make a strong effort to ship as much stock as possible to China.