Despite the arrival of new goods, the price of green lentils is rising

12-Sep-2024 05:48 PM

Regina. There is a strong arrival of lentils in the markets of western Canada and the preparation for harvesting of its new crop is almost complete, but still the price of green lentils is not only strong but is also increasing.

The price of thick green lentils has increased to 52 cents per pound and the price of small green lentils has improved to 47 cents per pound.

On the other hand, the price of medium green lentils (Richli) in America is being reported to be around 34 cents per pound.

According to trade analysts, the market of thick green lentils is rising due to some special reasons. It is believed that its stock has decreased considerably in the major importing countries and soon efforts for new imports may begin there.

At present, the farmers of Saskatchewan and Alberta provinces are showing less interest in selling their new crop because they expect the prices to increase further in the coming time. Apart from this, the focus of the farmers is less on the sale of their stock and more on completing the harvesting of the crop.

As far as red lentils are concerned, its price remains stable with sluggish market and light trade. According to trade analysts, the price of red lentils in different parts of Saskatchewan province is running between 28-29 cents per pound FOB,

while the target for the coming months is being said to be slightly higher. Despite this, the price is not being quoted above 30 cents per pound. It seems that farmers are trying to hold their stock of pulses so that it can be sold at a higher price in December-January.

Canadian producers / exporters are eyeing the Australian crop where 16.90 lakh tonnes of lentil production is estimated this time.

The yield rate of lentils is likely to be affected due to adverse weather in South Australia and Western Victoria province. Overall, the global market of lentils is expected to be somewhat better.