Due to the possibility of better production, the price of peas has started softening.

16-Aug-2024 04:18 PM

Regina. In Saskatchewan province of Canada, the harvesting and preparation of the new crop of peas is going on.

There is a possibility of a good increase in its average yield rate and total production, which requires an increase in demand to consume it.

Due to the increase in sowing area and productivity, the production situation is better, which has started putting pressure on the prices.

Usually, during the harvesting and preparation season, the price of peas softens, which is natural. At present, the price of yellow peas has come down to $ 9.00-9.50 per bushel, the price of green peas is $ 13-14 per bushel and the price of maple peas is $ 18.00-18.50 per bushel.

Despite this, there is a lack of demand in the pea market. Actually, foreign importers are waiting for stability in the pea market in Canada.

When the period of softening in prices ends and the market stops, then the pace of business can increase.

The price of high quality maple peas is expected to fall further to between $14.50-16.50 per bushel.

Since only yellow peas are allowed duty free import in India, green peas or maple peas are not being imported. Pea exporters from Canada as well as Russia are also eyeing huge markets like India and China.