Canada Pea Crop Report: AAFC

22-Mar-2025 08:32 AM

Canada Pea Crop Report: AAFC
Season 2024–25
★ Exports are projected to reach 2.1 million tonnes, with China and India remaining the largest buyers. However, China’s imposition of import tariffs may negatively impact export volumes.
★ From August to January, pea exports totaled 1.56 million tonnes, matching the same period in 2023–24.
★ Due to increased production and steady exports, large carry-over stocks are expected by the end of the season.
★ Average prices are expected to be lower than in 2023–24.
★ In February, there were no significant price changes for green and yellow peas in Saskatchewan, and export activity remained weak.
★ India is expected to have a good domestic pea harvest.
★ Green peas are priced $200/ton higher than yellow peas, up from a $185/ton difference in the 2023–24 season.
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Season 2025–26
★ Sown area is forecast to reach 1.42 million hectares, driven by strong prices received by farmers in 2023–24. Production may rise 7% to 3.13 million tonnes.
★ Supply could increase by 15%, while exports may decline.
★ Prices are expected to remain weak in the 2025–26 season.
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United States – Season 2024–25
★ U.S. pea production is expected to be 760,000 tonnes higher than in 2023–24. However, exports are likely to decline year-over-year.
★ The U.S. is also expected to export up to 550,000 tonnes to Canada.
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Impact on Indian Markets
★ Pea imports are permitted until May 31, 2025—market observers are watching for potential government policy decisions.
★ China's tariffs may force Canada to lower prices, increasing competition in the global market.
★ Overall, this situation is unfavorable for the pulse industry