Lentil prices stable in Canada due to limited buying and selling of spot goods

28-Jun-2024 03:35 PM

Saskatoon. Lentil sowing has ended in Canada and the crop is growing normally. The weather conditions remain overall, due to which production is expected to be better.

The crop will be harvested in August-September. The surplus will be less at the end of the current season, but still the overall availability is expected to be better in the next season.

Buyers are focused on the next new crop, due to which the spot stock price of thick green lentils has remained stable at 75 cents per pound for No. 2 grade.

Most of the deals for the next new crop have already been done, but some buyers are still showing interest in it. The Ministry of Agriculture of Canada has estimated the average market price of lentils to be slightly softer due to better production during the 2024-25 marketing season compared to 2023-24.

In Australia, the government agency ABARES has projected a production of 1.6 million tonnes of lentils, which is almost equal to the 2023-24 season.

Russia's production is being monitored. In India, the price of lentils has increased less than other pulses and due to limited stock and high prices in exporting countries,

Indian importers are not very active at present. The central government has made the import of lentils duty-free till March 31, 2025.

Lentil production in the US is likely to be almost normal. The pace of lentil imports in India may increase from August-September. The arrival of Australian crop may start in October.