Pea business in Canada is slow due to focus on next crop

14-Jun-2024 05:02 PM

Regina. Pea sowing in Canada is almost over and now people are waiting for its new crop to arrive. Its arrival is expected to start from mid-August,

so buyers are showing less interest in buying peas from spot stock. Instead, special attention is being paid to advance contracts for buying and selling of the next new crop. Peas are being traded in limited quantities to fulfill old export deals.

The price of new and old crop of peas has come to the same level to a large extent and is currently stable.

According to trade analysts, the price of yellow peas in Canada is around $ 13 per bushel and the price of green peas is $ 17 per bushel,

while the price of Maple peas is being reported to be $ 22-23 per bushel. The Indian government has allowed duty-free import of yellow peas till October, while the arrival of its new consignment will start in Russia and Canada from August itself.

The price of yellow peas for the next new crop is being reported to be $ 12.25 per bushel, green peas $ 14.50 per bushel and maple peas $ 20-21 per bushel.

According to analysts, the pea sowing area in Canada has increased a bit during the current year as compared to last year and in Saskatchewan province alone, its area has increased by 12-15 percent,

while the condition of the crop is looking better due to good rains in many areas. Due to this, producers should continue to sell their old stock of peas regularly.