Prices Expected to Rise Amid Strong Demand for Peas

Regina. Industry analysts predict that demand for peas in major importing nations will remain robust in the coming months, potentially driving up prices. A decline in planting acreage and the impact of natural disasters in Canada make a drop in pea production highly likely. Meanwhile, strong demand is anticipated from top importers like India and China. Pea exports from Russia and Ukraine are being severely hampered by the lack of security along Black Sea shipping routes. Imports of peas may also increase in other Asian countries.

Canada's pea production is projected to fall to 3.26 million tonnes this season, down from 3.93 million tonnes last year. Harvesting operations are currently underway. Production of yellow peas is expected to decline by 19 percent, while green pea production is likely to drop by 13 percent. Consequently, yellow pea output is expected to fall to 2.56 million tonnes, green pea production to 0.506 million tonnes, and production of other pea varieties to 0.194 million tonnes.

According to an analyst, there are no major concerns regarding pea quality, as 85–90 percent of the crop was harvested before the rains began. Meanwhile, green pea production in the United States has dropped by 39 percent, and the pace of exports from that region has been notably slow.