Canada & US Market/Crop Report: Peas (2024-25)

20-Nov-2024 11:51 AM

Canada & US Market/Crop Report: Peas (2024-25)
Canada Overview
Production Forecast: Canada is expected to see a 21% increase in pea production, reaching 3.16 million tonnes in the 2024-25 crop year.

Yellow Peas: Production of yellow peas is projected to rise by 25% compared to last year.

Green Peas: Production of green peas is forecast to reach 0.47 million tonnes, showing a positive outlook for green pea yields.

Other Peas: Production of other types of peas is expected to rise to 160,000 tonnes.

Supply: Total pea supply in Canada is expected to be 6% higher than the previous year, reaching 3.5 million tonnes.

Exports: Canadian pea exports are projected to remain stable at 2.4 million tonnes, with major markets including China and India for the August-September 2024 period.

Price Trends: The average price of peas is forecast to decline by 12% to $405 per tonne compared to the 2023-24 crop year.

On-Farm Price Changes: In Saskatchewan, prices for yellow peas increased by $15 per tonne, while green peas saw a larger price increase of $30 per tonne.
The price differential between green and yellow peas was $165 per tonne in 2024-25, down from $185 per tonne in 2023-24.
USA Overview
Sowing Area: In the U.S., dry pea sowing area is expected to increase by 2% to 400,000 hectares for the 2024-25 crop year.

Production: U.S. pea production is forecast to increase by 7%, reaching approximately 870,000 tonnes.

This growth in both the Canadian and U.S. pea markets indicates a positive outlook for overall pea production, although prices in Canada are expected to trend lower due to increased supply and stable export demand.