Pea Prices Stabilize Amid Increased Supply from Major Producing Nations

30-Mar-2026 03:19 PM

Vancouver. The global market prices for peas witnessed significant stability over the past week. Supply from major producing and exporting nations remained robust, while buying activity from importers remained moderate.

The ongoing intense conflict between Iran and Israel in the Middle East has rendered maritime trade routes unsafe, thereby disrupting the import and export of peas, alongside other commodities.

Canada and Russia currently hold massive carryover stocks of peas, a factor exerting downward pressure on global market prices.

While the new sowing season is set to commence shortly in these regions, producers remain in a state of uncertainty due to the substantial existing stocks, depressed price levels, and disruptions in trade flows.

Although China has reduced import tariffs on Canadian peas, robust purchasing activity has yet to materialize in that market. Canada experienced an exceptional pea harvest during 2025, resulting in a substantial accumulation of stocks.

Consequently, the market has adopted a highly cautious stance amidst the prevailing uncertainty regarding sowing intentions.

According to preliminary estimates, the area dedicated to pea cultivation in 2026 is projected to contract significantly compared to 2025, potentially shrinking from approximately 3.5 million acres to around 2.08 million acres.

Meanwhile, the U.S. Department of Agriculture is scheduled to release its estimates regarding the pea sowing area in the United States on March 31st; the market situation is expected to become clearer following that release.