Kanpur: Pea prices continued to trend upwards this week due to reduced availability at ports and producing markets, coupled with sustained buying interest. Buyers remain active amidst limited market supply, while selling by stockists remains insufficient even at higher price points. Pea loading operations have been disrupted by the Russia-Ukraine conflict. Delays in transportation and shipment have led to the cancellation of numerous deals, impacting the availability of imported peas. With the pace of new loading remaining slow, there are concerns that market shortages could intensify in the coming days. Domestic availability of white peas is also low; last year, farmers prioritized sowing green peas over white peas, resulting in limited production and domestic supply of the latter. Consequently, the market has become increasingly dependent on imported peas. The combination of slow loading of imports, deal cancellations, and weak domestic supply has led to consistently tight supplies in the pea market. Limited selling by stockists has further fueled the price rise. Given current conditions, the pea market is likely to remain bullish in the near term. If loading from the Russia-Ukraine region does not improve and new supplies fail to arrive on time to compensate for cancelled deals, the shortage could worsen, potentially driving pea prices even higher. Due to subdued selling by importers and sustained buying interest, prices for imported peas rose by ₹100–200 per quintal this week; by the weekend, rates stood at ₹4,600 per quintal for Canadian peas and ₹4,400 per quintal for Russian peas at Mundra Port. Similarly, prices at Hazira Port reached ₹4,600 per quintal for Canadian peas and ₹4,400 per quintal for Russian peas.

Demand in domestic markets improved this week, driven by continued buying activity. Supported by strong demand, pea prices in Kanpur rose by ₹100 per quintal during the week, reaching ₹4,675–₹4,700 per quintal. Similarly, prices for Lalitpur peas increased by ₹100, reaching ₹4,050–₹4,350 per quintal. Driven by reduced selling pressure and increased buying, prices in the Orai and Mahoba markets rose by ₹200–₹250 per quintal; rates settled at ₹4,000–₹4,300 per quintal in Orai and ₹4,200–₹4,800 per quintal in Mahoba. A similar rise of ₹100 per quintal was observed for Rath peas, bringing prices to ₹4,000 per quintal. Supported by a broad-based upward trend and improved demand, pea prices in Madhya Pradesh markets also strengthened by ₹100 per quintal, reaching ₹3,800–₹4,300 per quintal in Bina and ₹3,900–₹4,400 per quintal in Damoh.

Due to increased buying, pea split prices rose by ₹150 per quintal during the week; by the weekend, prices stood at ₹5,000–₹5,100 per quintal in Kanpur and ₹5,100–₹5,200 per quintal in Indore.