Weekly Review: Peas

Kanpur. Pea prices trended downwards during the current week as sales slowed at elevated price levels. However, the outlook for a future price rise remains strong, driven by consistently limited market availability and anticipated festive demand. Concerns regarding the supply of imported peas are also mounting; the likelihood of large-scale pea shipments arriving from Russia before March is currently considered low. Consequently, pressure on the availability of imported peas could intensify in the coming months. Meanwhile, pea stocks at major ports are steadily declining. Availability of Canadian peas at the Kolkata port is reported to be negligible. This depletion of port stocks could impact the immediate availability of imported peas, potentially affecting the domestic market. Another positive factor for the domestic market is that stocks of old indigenous peas are nearly exhausted. Furthermore, demand for seeds is expected to rise with the commencement of sowing for the new indigenous pea crop in October, potentially creating additional demand pressure on existing supplies. Demand for domestic peas is likely to improve as the festive season approaches and Diwali shopping begins. Should festive demand rise as expected, buying activity from pulse mills and traders could strengthen. Overall, while the price rally is currently capped by sluggish sales at higher rates, the market retains the potential for future strengthening due to limited domestic availability, dwindling port stocks, the near-depletion of old indigenous pea stocks, and upcoming festive demand. Prices could receive further support if the availability of imported peas tightens. Due to increased selling by importers and subdued buying interest, prices of imported peas softened by ₹50 per quintal during the week; by the weekend, rates at Mundra port stood at ₹4,725–₹4,750 per quintal for Canadian peas and ₹4,475–₹4,500 per quintal for Russian peas. Meanwhile, at the Hazira-Mumbai port, prices for Canadian peas stood at ₹4,725–₹4,750 per quintal, while Russian peas were at ₹4,500 per quintal. Due to weak buying interest and limited demand, pea prices in domestic markets also trended downwards during the week. Sluggish demand led to a drop of ₹50–₹100 per quintal in major producing and distribution markets; consequently, prices settled at ₹4,800 in Kanpur, ₹4,100–₹4,500 in Lalitpur, ₹4,300–₹4,700 in Mahoba, and ₹4,100–₹4,400 in Damoh per quintal.

Preparations for the pea harvest are in full swing in Saskatchewan, Canada's major pulse-producing province. However, producers are attempting to withhold stocks in anticipation of future price increases, resulting in a slow pace of trading in the markets. Traders and exporters are currently keeping a close watch on foreign markets. Buyers are awaiting final production figures from Canada and are avoiding hasty purchases at high prices. At the start of the current 2026-27 marketing season, there was a substantial carryover stock of approximately 1.18 million tonnes—significantly higher than in previous years—which continues to exert downward pressure on pea prices. Nevertheless, Canadian peas are receiving some support due to disruptions in pea shipments from Russia via the Black Sea route. Should supply disruptions persist, demand for Canadian peas could rise in major importing nations like China and India. India primarily imports yellow peas, and recent domestic prices for the commodity have shown some firmness.

Due to weak buying interest, pea split prices fell by ₹100–₹150 per quintal during the week; by the weekend, prices stood at ₹5,250–₹5,350 per quintal in Kanpur and ₹5,500–₹5,560 per quintal in Indore.