Strong Export Demand Bolsters Pea Prices

Regina. Pea prices in the international market remained firm at relatively high levels over the past week. Due to significant disruptions in shipments from Russia and Ukraine, demand for Canadian peas remains robust in markets across Asia and Europe. Both India and China are expected to require increased imports of Canadian peas in the near future.

In Canada, the pea harvest is nearing completion. Compared to last year, adverse weather conditions have led to a decline in production and have also impacted the quality of the crop. While a substantial carryover stock from the previous season remains available, there are concerns regarding its quality. It is understood that the majority of the high-quality peas from that stock have already been exported.

In the current marketing season, Canadian pea exporters are facing less intense competition from Russia and Ukraine, as those countries are encountering major difficulties in executing exports. Although Russia and Ukraine have seen good pea production this season, the decline in their exports has kept global market prices firm.