Kanpur. The domestic peas market remained stable throughout the week due to sluggish buying activity. Prices saw no significant fluctuations, as activity from both buyers and sellers remained limited. Demand was impacted by need-based purchasing from pulse mills and weakness in the gram (chana) market, preventing the market from gaining expected support. Continued selling by stockists and buyer reluctance to purchase at higher prices have hindered the balance between supply and demand. However, the likelihood of a sharp price drop is considered limited for now, given the potential for demand to emerge at lower price levels. Due to the lack of buying interest, prices of imported peas remained unchanged during the week; by the weekend, Canadian peas were quoted at ₹3,925 per quintal and Russian peas at ₹3,800 per quintal at Mundra Port. Meanwhile, at Hazira Port, Canadian peas traded at ₹3,925 per quintal and Russian peas at ₹3,850 per quintal.

In domestic markets, pea prices in Kanpur remained steady at ₹4,225 per quintal due to sluggish demand. In Lalitpur, prices rose by ₹50, reaching the ₹3,900–₹4,400 per quintal range. Another major market saw prices increase by ₹100 to ₹4,000–₹4,400 per quintal, whereas prices in Mauranipur fell by ₹75, settling at ₹3,950–₹4,050 per quintal. Markets in key regions of Madhya Pradesh also remained stable 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. Traders believe that pressure on the pea market is likely to persist until there is a significant improvement in the demand for pulses. However, increased buying at lower price levels is expected to provide limited support to the market.

According to a recent report by the Canadian government agency StatsCan, the pea sowing area in the country has declined by 14 percent this year compared to the previous year. Farmers were unable to meet sowing targets due to a delayed start to the planting season and excessive rainfall in key producing regions of Saskatchewan. The acreage for yellow peas also fell short of estimates, contrary to expectations of an increase. Meanwhile, reports indicate a reduction in pea cultivation areas in the US as well, driven by low profitability. Analysts predict that reduced sowing will likely lead to lower production in the upcoming season, potentially improving the supply-demand balance and mitigating the risk of excessive downward pressure on prices. The opening of the Chinese market is expected to provide additional support for Canadian yellow peas. Harvesting and market arrivals of the new pea crop in Canada and the US are likely to commence next month.

Due to sluggish demand, pea split pulse prices saw a decline of ₹50–100 per quintal during the week; by the weekend, prices stood at ₹4,600–4,700 per quintal in Kanpur and ₹4,700–4,800 per quintal in Indore.