Due to global production of red lentil being less than expected, prices are likely to remain strong.
25-Sep-2024 12:51 PM
Macau. A leading trade analyst has said that global production of red lentil during the current year is likely to be less than earlier estimates, due to which its prices may remain strong in the coming times.
According to the analyst, the government agency in Australia - ABARES has estimated the production of lentil to be around 17 lakh tons this time, while some analysts are expressing the possibility of this production increasing to 20 lakh tons,
but looking at the damage caused to the crop due to adverse weather conditions in the major producing areas, it seems that its production there may decrease to 12 lakh tons.
According to the analyst, due to the excellent production in Canada and Australia earlier, there was pressure on the prices of red lentil, but in the future, instead of softening, there is a possibility of an atmosphere of growth in its market.
According to another analyst, although the weather conditions are good in Western Australia and the crop yield rate is expected to be better in the North-East region, but due to extremely dry weather in the provinces of Victoria and South Australia,
the condition of the crop is continuously weakening. This critic also believes that the total production of lentils in Australia may fall to around 12 lakh tonnes.
On the other hand, the final production estimate of lentils in Canada is also expected to be slightly smaller than the current level.
Although a critic has estimated the lentil production there to jump from 18 lakh tonnes last year to 26.90 lakh tonnes this time,
but an important business establishment believes that this estimate seems to be 4 to 5 lakh tonnes higher than the actual production because the rains stopped when the crop season was in progress in Canada. The production may not be as per the estimate but the quality of lentil grains is very good.
Differences are also being seen in the production estimate of green lentils. An analyst has expressed the possibility of its production in Canada jumping from 5.65 lakh tonnes last year to 9 lakh tonnes this time, while another critic believes that the actual production may be close to 7 lakh tonnes.