Pea Market Scenario: Import Pressure Persists, But Festive Demand May Offer Support
11-Jun-2025 04:02 PM
Pea Market Scenario: Import Pressure Persists, But Festive Demand May Offer Support
★ India’s pea production for 2025 is estimated at around 1 million tons. However, to meet domestic demand, the country has imported 2.164 million tons of peas so far in FY 2024–25, compared to 1.169 million tons in the previous fiscal year. The government had allowed imports in December 2023 and has now extended the permission for the fifth time—until 31st March 2026.
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Global Production and Trade Outlook (2025)
★ Worldwide pea production is projected to reach 15.622 million tons, while domestic usage is estimated at 14.981 million tons. With global trade estimated at 6.67 million tons, a surplus of approximately 0.64 million tons may be created.
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Major Producing Countries – Canada and Russia
Canada
★ Pea production in Canada is expected to decline to 2.784 million tons in 2025, down from 3.05 million tons in 2024.
Exports are also projected to drop:
2025: 2.04 million tons
2024: 2.4 million tons
★ Between November 2024 and April 2025, Canada exported 1.994 million tons of peas to India, compared to 2.213 million tons during the same period last year.
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Russia
★ Russia’s pea production in 2025 is likely to rise to 5.012 million tons, up sharply from 3.914 million tons in 2024.
★ Due to growing demand from China and supply disruptions from other sources, Russia has emerged as the world's largest pea producer.
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India Market Price Trend (Rs/quintal)
Lalitpur:
Jan 2022: Rs. 7,000
Jan 2023: Rs. 3,850
Jan 2024: Rs. 4,500
Jan 2025: Rs. 3,100
Import Prices – Mumbai (Canada):
Jan 2024: Rs. 5,200
Jan 2025: Rs. 3,425
11 June 2025: Rs. 3,600
Import Prices – Mumbai (Russia):
Jan 2024: Rs. 4,700
Jan 2025: Rs. 3,375
11 June 2025: Rs. 3,450
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Market Conditions and Outlook
★ Currently, around 500,000 tons of peas are stocked at major Indian ports.
★ With Canada’s new crop expected in September, no major import volumes are likely in the interim.
★ There’s growing sentiment that peas are being “dumped” into the Indian market due to the low import prices.
★ However, the upcoming festive season (Shravan, Janmashtami, Ganesh Chaturthi) may improve demand for pulses, which could lend some support to pea prices.
★ At present, the Indian pea market remains under pressure due to high imports and large stocks. But if demand picks up, particularly during the festivals, prices could recover.
★ Both policymakers and traders will need to proceed with caution and strategic planning in the coming months.
Important Disclaimer:
This report is for informational purposes only I-Grain India does not take any responsibility for profits or losses and does not promote any specific market movement (bullish or bearish). *Please make decisions based on your own judgment and understanding.