Canadian lentil prices likely to soften further

22-Aug-2024 04:58 PM

Saskatoon. In the Prairie region of Western Canada, vigorous harvesting of the new lentil crop is going on and the stock with the producers is increasing.

As a result, the price of different varieties of lentils is stable or soft. There was no much fluctuation in the price of thick green lentils and it remained stable at last week's level of 46-48 cents per pound. Its export shipment has started.

The price of red lentils softened a bit, but still it is being reported to be trading at the price level of 29-30 cents per pound at some places.

The price of small green lentils is being reported to be 44-45 cents per pound. The price is going according to the place and quality.

There are some important factors that will affect the prices of lentils in the coming time, which include the possible strike of railway workers, the situation of production of pigeon pea (tuvar) in India and concern about the quality of lentil crop standing in the fields of Canada.

In fact, the weather and rainfall conditions in top producing provinces like Saskatchewan and Alberta are not completely favorable for the lentil crop and hence its quality and yield rate are likely to be affected there.

According to trade analysts, a softening environment is being seen in the Canadian grain market and it seems that the price of lentil is still holding a high level.

As a result, there is a greater possibility of a fall in the price of lentil compared to other grains including wheat and canola etc.

This time the lentil production in Canada is expected to be better than last year but there are doubts about its quality.

Producers and exporters are quite worried due to the strike of railway workers and an atmosphere of uncertainty prevails in the market.