Growing political tensions between India and Canada are likely to impact the yellow pea market.

17-Oct-2024 05:20 PM

Saskatoon. India is the leading buyer of Canadian peas. But a deep dispute and tension has arisen between the two countries at the political level, due to which Canadian producers and exporters are in a dilemma.

Indian importers are also in a dilemma. Although a similar situation had arisen once before, but trade activities were not affected.

At that time, yellow peas were not being imported to India and only lentils were being imported. But now both pulses are being imported.

Although the dispute is limited to the political level only, but if its scope increases and reaches the trade level in future, it will not be a surprise.

The price of pulses in India has started falling, due to which there is a possibility of slowing down the pace of imports.

At present, duty-free import of yellow peas has been allowed in India till 31 December 2024 and if the dispute with Canada continues, import duty can be imposed on peas again from 1 January 2025. On the other hand, there is a huge stock of peas in China due to which its import is seen to be slow.

Russia's dominance over China's pea market is increasing which can cause great difficulty to Canada. Production in Russia has decreased a bit but still there is a huge stock of it there. For Canada, yellow peas will remain a more serious challenge in the global export market.

The market of green peas and maple peas may remain unaffected by these tensions and disputes. Its business is going on in a normal manner.

The price of yellow peas in standard markets is currently being reported between $ 10.00-10.50 per bushel, while the price of goods containing pesticides is expected to improve somewhat.

The price of green peas remains stable between $ 15-16 per bushel and the price of maple peas remains stable between $ 18-20 per bushel.