Lentil prices firm in Canada amid fears of production decline

Regina. Lentil production in Canada is likely to drop significantly due to a reduction in planted acreage and weather conditions that were not entirely favorable for the crop. Unseasonal rains during the harvest period have impacted lentil quality. Harvesting is now in its final stages. However, due to substantial carryover stocks from the previous season, total availability is expected to remain roughly on par with the last marketing season.

Lentil prices remain firm in Saskatchewan, Canada's leading agricultural province. The price of No. 2 grade red lentils has reached 25–26 cents per pound, while the FOB farm-gate price for No. 2 quality large green lentils is reported to be between 25 and 27 cents per pound. Analysts suggest that disruptions to Russian exports and delays in the arrival of new supplies from Australia are providing Canada with a prime opportunity to boost its lentil exports.

Interestingly, many buyers are prioritizing the purchase of new-crop lentils over older stocks, creating an environment of firming prices. The price of No. 1 grade small green lentils has also improved to 22–23 cents per pound. Significant quantities of lentils are being imported into India from Canada.