Pea prices stable in Canada due to good sowing and limited trading

06-Jun-2024 03:28 PM

Saskatoon. During the current week, almost stability is being seen in the pea market of Canada. On one hand, the sowing campaign has reached its final stage, on the other hand, the buyers are getting less active in buying spot stock.

The price of spot stock peas is now slowly reaching the level of the next new crop, which is not a big deal for this period of the season.

The spot delivery price of yellow peas is being reported to be around $ 13 per bushel, while the indicative price of green peas is running between $ 16 to $ 18 per bushel. Its stock is very less. The price of Maple peas is still at a high level of $ 25-26 per bushel.

But there is a slight hindrance in trading at this price level because sowing for the next new crop is going to end soon and the supply of new pea stock will start from August, so most of the buyers are focused on it.

Canadian exporters are buying peas in small quantities only to settle old deals. A large quantity of peas has already been exported from Canada in the current marketing season even though the production there was relatively less. India has been importing yellow peas from Canada in a big way but now there are signs of its pace slowing down.

There is a possibility of some damage to the pea crop in Russia due to drought but even then the production will be slightly more than the normal average. India has become an important market for Russian peas which is creating difficulties for Canadian exporters.