Pea market in Canada remains calm due to possibility of import duty in India

14-Feb-2025 12:56 PM

It seems the Canadian pea market is facing a challenging situation due to the potential import duties India may impose after February 28, 2025.

India is a key buyer of yellow peas, and if they halt imports or impose duties, it could significantly impact Canadian exports.

With the demand from China also weakening, there is growing concern among Canadian producers and exporters about their ability to secure new markets for their yellow peas.

This uncertainty is also influencing farmers' decisions about what crops to plant in the upcoming season.

Given the existing stock of peas in Canada, coupled with the slowing demand, there is a possibility of a price softening.

The current price of yellow peas is holding steady at $10.00–10.50 per bushel, but the market is uncertain about the direction of prices in the coming weeks.

Additionally, the possibility of a reduction in the area planted with yellow peas, while green peas might see an increase, indicates farmers' strategy to minimize risk.

It seems like Canada's pea industry will need to find new markets for yellow peas if India's import policy changes significantly.