Canada Market Overview: Lentils, Peas, and Chickpeas

21-Nov-2024 11:33 AM

Canada Market Overview: Lentils, Peas, and Chickpeas
Lentils
Red Lentils: Prices have risen to 34 cents per pound (FOB farm) in some areas, showing strength in the market despite Australia’s harvest not affecting prices significantly. However, Australia's crop is lower this year, and India's import pace is slower, contributing to the price firmness.
Green Lentils:
Prices fluctuated slightly this week. Green lentils initially dropped to 58 cents per pound but then rebounded to 60 cents per pound.
Old Medium Green Lentils: These are priced between 39-40 cents per pound.
Small Green Lentils: Prices range from 53-56 cents per pound.
New Crop Prices:
Small green lentils: 45 cents per pound
Medium green lentils: 30 cents per pound
Large green lentils: 47 cents per pound
Red lentils: 34 cents per pound
Peas
The peas market remained stable this week.
Yellow peas: Priced at $11 per bushel.
Green peas: Priced at $17 per bushel (pickup farm).
Maple peas: Priced between $19 and $23 per bushel.
Chickpeas
Uncertainty for 2024/25 Canadian Chickpea Production: The production estimates for Canadian chickpeas may be higher than expected, but it’s unclear how much will be harvested, adding some uncertainty to the market.
Supplies: Canadian chickpea supplies are expected to be the highest in several years, which should support exports.
Export Outlook: While exports are expected to rise, Canada faces stiff competition from the US, which has had a strong crop this year. The key export market, South Asia, will be crucial for meeting export targets.
Domestic Market: Bids for Kabuli Chana (chickpeas) have softened since mid-September, with global prices seeing slight increases, though adequate domestic supplies are keeping prices under pressure.
Export Targets: Canada aims to reach 2 lakh tonnes of chickpea exports for the year, but the current export pace is slow, and significant efforts will be required to hit that target.
Key Points:
Lentils: Prices are generally strong, with red lentil prices rising. Green lentil prices have seen fluctuations, but the market for them remains steady.
Peas: Stable prices across the board, with minor price ranges for different types.
Chickpeas: Uncertainty surrounds production, but supplies are expected to be ample. Export efforts will need to be ramped up to meet the target, especially in the face of competition from the US and slower-than-expected export pacing.
This market snapshot highlights steady conditions in some sectors and fluctuating conditions in others, with a focus on exports playing a critical role in Canada’s pulse market outlook.