Kanpur. The pea market witnessed a downward trend this week due to increased selling at higher price levels and sluggish buying activity. Prices remained under persistent pressure owing to limited buyer engagement and weak demand from pulse mills. Selling by traders and stockists has intensified following the recent rise in pea prices. Conversely, buyers are shying away from purchasing at these elevated levels, creating an imbalance between market demand and supply. The ongoing softness in the gram (chana) market also impacted pea prices; the weak trend in gram led to reduced buying of peas by pulse mills, depriving the market of expected support. Market analysts observe that pulse mills are currently purchasing only to meet immediate requirements, and price pressure is likely to persist until demand for pulses improves. However, experts believe there is a possibility of demand emerging at lower price points, limiting the likelihood of a sharp decline.

Prices of imported peas dropped by ₹50 per quintal this week due to increased selling by importers and subdued buying. By the weekend, Canadian peas were quoted at ₹3,950–₹3,960 per quintal and Russian peas at ₹3,900 per quintal at Mundra Port. Meanwhile, at Hazira Port, Canadian peas traded at ₹3,975 per quintal and Russian peas at ₹3,900–₹3,925 per quintal.

A soft trend prevailed in the domestic market as well. Increased selling by stockists caused Kanpur pea prices to fall by ₹25 to ₹4,225 per quintal. In Lalitpur, pea prices declined by ₹50, settling at ₹3,900–₹4,250 per quintal. In Rath, sluggish buying caused pea prices to drop by ₹200, settling at ₹4,000–₹4,200 per quintal, while in Mauranipur, prices fell by ₹90 to record levels of ₹3,900–₹4,000 per quintal.

Pea prices also declined by ₹50–₹100 per quintal in Madhya Pradesh markets due to weak demand. By the weekend, peas were trading at ₹3,800–₹4,000 per quintal in Bina and ₹3,800–₹4,100 per quintal in Damoh. According to traders, the near-term direction of the pea market will depend on the demand for pulses and the movement of the *chana* (gram) market, although increased buying at lower price levels could provide some market support.

With pea sowing completed in Canada, market focus has shifted to the progress of the new crop. Harvesting is expected to begin in August, and significant advance contracts for the new crop have already been finalized; consequently, trading in existing stocks remains sluggish. Yellow pea prices have remained stable at $8.00–$8.50 per bushel over the past few weeks, whereas green pea prices have dropped to $9.00–$9.50 per bushel due to weak demand. Farmers in Saskatchewan are showing little interest in selling at lower prices. Exporters are keeping a close watch on the Chinese and Indian markets; China has reduced import duties, while India faces potential disruptions to *kharif* pulse production due to adverse weather conditions. All eyes are now on the 'StatsCan' report due on June 30, which will release detailed data on pea sowing acreage.

Due to sluggish demand, prices of peas split declined by ₹50–100 per quintal during the week; by the weekend, rates stood at ₹4,500–4,650 per quintal in Kanpur and ₹4,700–4,800 per quintal in Indore.