Pea prices stable in Canada due to rift with India

24-Oct-2024 06:57 PM

Regina. Due to the growing diplomatic dispute with India, the pea market in Canada has become stable to a great extent.

Although the trade relations between the two countries are normal at present and the chairman of India Pulses and Grains Association has expressed the hope that the import of pulses from Canada to India will continue regularly,

but some importers are in a dilemma. India is the main buyer of Canadian yellow peas and losing this huge market can prove to be fatal for Canada because then Russia's position will become stronger.

In the markets of Western Canada, the price of yellow peas is running at $ 10.00-10.50 per bushel, while the price of peas free from chemical residues is reported to have reached $ 12 per bushel in some places.

Similarly, the price of green peas has remained stable around $ 16 per bushel, but Maple peas have gained some strength and the price of its different varieties has reached a high of $ 20-22 per bushel.

The demand for Canadian yellow peas is also seen to be weak in China and the dominance of Russian peas is increasing in its market.

Duty-free import of yellow peas has been allowed in India till 31 December 2024 and till then importers can try to import as much as possible.

A huge import of 30-32 lakh tonnes of yellow peas is expected in India between December 2023 and December 2024.