Canada Market Update

06-Mar-2025 02:01 PM

Canada Market Update
Peas
★ No major changes in the pea market this week.
★ US-Canada tariffs are not expected to significantly impact the pea market. However, if India does not extend its duty-free import period, Canadian pea exports could decline.
★ Old crop yellow peas remain at $10.00-$10.50/bushel (FOB farm), while new crop yellow peas are around $9.00/bushel (FOB farm).
★ Green pea prices softened slightly. Old crop at $16.00-$17.00/bushel (FOB farm), while new crop dropped to $13.50/bushel (FOB farm).
~~~~~~~~
Lentils
★ Prices remained stable last week.
★ Large green lentils: 57-58 cents/lb, small green lentils: 50-51 cents/lb, red lentils: 33-34 cents/lb.
★ Disease concerns might lead to a reduction in red lentil acreage, while green lentil cultivation is expanding in some regions.
★ Tight supply of green lentil seeds, with low carryover stocks expected.
★ Strong export demand expected for the 2025/26 marketing year.
★ If Indian tariffs return, prices could see some pressure, but overall, analysts expect stable pricing.
~~~~~~~~
Kabuli Chickpeas
★ US tariff situation requires close monitoring.
★ The US is one of Canada's largest buyers, and restricted access to the US market could increase domestic supply.
★ Higher acreage expected this year.
★ Canada may rely more on export markets, facing strong competition from Russia and Australia due to their better logistics.
★ Old crop Kabuli chickpea prices vary by size. 9mm-sized higher percentage product traded around $0.38-$0.39/lb (FOB farm). New crop bids were seen at $0.35/lb (FOB farm) with some buying interest.