The market for peas in Canada is facing some challenges due to ongoing uncertainty surrounding customs duties in India, which has led to a slowdown in trade.

This uncertainty stems from the approaching deadline of December 31 for the duty-free import of yellow peas into India.

It remains unclear whether this deadline will be extended, and initial indications suggest that India may re-impose the import duty on yellow peas after this date. This lack of clarity has created confusion within the Canadian market.

Currently, the FOB farm price of yellow peas in Western Canada is stable, ranging between $10.50 to $11.00 per bushel, with the best quality goods priced at $11.00 per bushel.

The period from August to October 2024 saw a notable increase in the export of yellow peas to India. Meanwhile, the price of green peas in Canada remains stable at $16.00 to $16.50 per bushel, while maple peas are priced between $19.00 and $24.00 per bushel, with some trading activity occurring in maple peas.

Chinese buyers have also become more cautious, holding back from purchases as they await changes in India's customs duty.

There is a belief that if India increases its imports, the price of peas in Canada might decrease, which could make Canadian peas less competitive. In response, Chinese traders are increasingly turning to Russian peas, a less expensive alternative to Canadian peas.

The overall situation has raised concerns among Canadian producers and exporters, as there is a good exportable stock of peas available in the country. However, the market remains in a state of uncertainty due to these global trade dynamics.