Pea prices stable in Canada with limited trade

08-Nov-2024 06:00 PM

Pea prices stable in Canada with limited trade

Regina. Pea prices have remained stable for some time due to limited trade amid good supply and availability in Canadian markets. Under this, the price of yellow peas remains at $ 10.00-10.50 per bushel FOB, while the chemical category product is expected to reach $ 12 per bushel for next year's delivery. Similarly, the price of green peas is stuck at $ 15-16 per bushel and the price of measured peas is being reported between $ 18 and $ 22 per bushel. Preparations for harvesting the crop have already ended.

Only yellow peas have been allowed to be imported in India and it is being regularly imported here from Canada and Russia. Although the distance between India and Canada is increasing at the diplomatic level, but no effect of this has been seen on trade relations yet. If the pace of pea import from Canada to India slows down, then the reason for this may not be diplomatic tension but the reduction in India's requirement. In fact, a huge stock of previously imported peas is still present here and its sowing season has started. Yellow peas can be imported by the end of December 2024. In the domestic sector, the price of various pulses and especially tur, urad, and lentils as well as gram has stabilized in a certain range, so the importers do not want to show any special haste.

Canada is facing tough competition and serious challenge from Russia among the top pea importing countries like India and China, so exporters are not getting the freedom to increase the price of their product arbitrarily. Producers also know that their sales may get stuck at high prices. Many other countries including Ukraine are also present in the global market with their peas. The next sowing in Canada will start from April.