Peas – Global Scenario and Impact on India
04-Jul-2025 12:45 PM
Peas – Global Scenario and Impact on India
Canada's pea production estimate (2025):
★ According to StatCan, higher acreage and an average yield of 33.4 bushels per acre could push total Canadian pea production to 3.1 million tonnes.
★ Total supply is projected to reach 3.57 million tonnes.
★ After accounting for domestic use and exports of around 2.3 million tonnes, the carry-out stock could be 1.3 million tonnes – a stock-to-use ratio of 57%, indicating significant surplus.
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Russia as a growing competitor:
★ Russia's pea production is estimated to reach a record 5 million tonnes.
★ Russian peas are harvested nearly two months earlier than Canada's, giving Russia an export advantage in international markets.
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Impact on India:
★ India has waived the import duty on peas until 31 March 2025, but current imports remain low.
★ Once the Russian crop enters the market and global prices soften, India is expected to resume large-scale imports.
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Market implications:
★ As both Russia and Canada enter the export market around the same time, competition will intensify – likely putting further pressure on prices.
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Stock situation in India:
★ Over 607,000 tonnes of peas are already available at major Indian ports.
★ In Kanpur alone, there is an estimated 150,000 to 200,000 tonnes of stock (imported and domestic).
★ Total available stock across the country exceeds 1.2 million tonnes.
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Price decline:
★ In Kanpur, prices have dropped from Rs. 7,000 per quintal last year to around Rs. 3,450 now.
Port rates:
★ Kolkata: Russian peas at Rs. 3,475, Canadian at Rs. 3,575
★ Mundra: Rs. 3,000–3,050
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★ High global supply, strong competition between Russia and Canada, surplus stock in India, and expectations of falling international prices — all indicate that pressure on the pea market may continue.
Disclaimer: This information is based on available estimates and market sources as of July 2025. Actual market conditions may vary. Readers are advised to use their discretion before making any trade or investment decisions.