Pea prices soften amid limited trade in Canada

20-Mar-2025 08:42 PM

Regina. China has announced to impose 100 percent customs duty on import of Canadian peas, the shock of which will not be easy for Canadian producers and exporters to bear.

Actually, Canada has a huge exportable stock of peas, while one of its major markets is going out of its reach.

After China's announcement, importers from other countries have also become active in re-evaluating their bids and have started trying to fix new prices for the upcoming contracts.

Due to the imposition of new customs duty in China, Canadian farmers may have to make some changes in their plans for sowing pea area.

Canada will have to struggle hard to export its huge stock of peas because China is its second largest buyer.

The prices of peas have started softening there and if the trend of decline continues, the morale of the producers may break.

However, Canadian producers and exporters are hopeful that if the prices fall, the demand for its peas will increase in other Asian countries because it will be available at more competitive or attractive prices.

Since duty-free import of yellow peas has been approved in India till May 31, 2025, Indian importers will definitely make every possible effort to take full advantage of this golden opportunity.

Apart from India, countries like Bangladesh, United Arab Emirates and Nepal also import peas in good quantities from Canada.

The price of yellow peas on FOB basis for immediate delivery in Western Canada has come down to $ 9.50 per bushel and the price of green peas has come down to $ 16 per bushel, while there may be some more softening in the future.

Foreign importers can wait for the market to stabilize there. India has already imported a very large quantity of yellow peas and the price of pulses in the Indian market has also come down much below the peak level.