Canada Market Update

14-Nov-2024 12:33 PM

Canada Market Update
Lentils
Market Overview:
Lentil sales remain relatively slow, keeping prices stable. Both buyers and sellers are active within a narrow price range.
There is a limitation in available shipping vessels, which could be impacting export activity.
Despite a weakening Canadian dollar, international demand remains subdued, with foreign buyers showing little interest in large purchases.

Prices:
Large Green Lentils: Trading between 56-58 cents per pound.
Small Green Lentils: Priced at 53 cents per pound for December-January.
Red Lentils: Stable at 33-34 cents per pound (delivered).

Competitive Landscape:
Australia continues to be a significant competitor to Canada in the global lentil market.

Regulatory Update:
The Canadian government recently eased the rules regarding site certificates for lentils imported from Russia, which could impact market dynamics.
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Peas
Market Overview:
Interest in both buying and selling has been relatively low this week in the pea markets, with muted trading activity.
The domestic price of peas and desi chickpeas in India has decreased. The potential re-imposition of tariffs after December 31 is a key point of uncertainty.
Prices:
Yellow Peas: Trading between $10.00 to $10.50 per bushel.
Green Peas: Priced between $15.50 to $16.00 per bushel.
Maple Peas: Selling between $19.00 to $22.00 per bushel.
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Kabuli Chickpeas
Market Overview:
The chickpea market experienced some buying interest last week, particularly for #2 Kabuli chickpeas.
Buyers are mainly looking for Kabuli chickpeas with at least 20% of the crop being 7mm size or larger. There is less demand for larger sizes.
Adequate old stock is still available from farmers, suggesting a stable supply for now.
The lentil market, in particular, faces some challenges with competition from Australia and slower foreign demand, while pea and chickpea markets are showing less volatility with slight price shifts. Monitoring shipping availability, the ongoing tariff situation in India, and the regulatory changes on Russian imports will be key factors for future market movements.