Prices of pulses in Australia are strong as peak harvesting season is over

13-Dec-2024 04:51 PM

The pulse market in Australia is currently experiencing strong prices following the end of the peak harvesting season. Producers are actively selling their stock, and prices for pulses like Desi gram, lentils, and faba beans remain relatively high.

However, the market dynamics for different pulses vary. While lentil prices are strong, particularly in South Asia, the demand for new gram exports to India has decreased.

This is largely due to a significant import of yellow peas from Canada and Russia, and stable or soft domestic market prices in India.

In contrast, faba bean production in Australia has been robust, with large shipments recently sent to Egypt. The strong price of faba beans in Egypt is encouraging Australian producers to maintain regular sales.

The quality of pulses harvested so far is reported to be good. However, some risks remain, especially in regions like New South Wales, where about a third of the gram crop is still standing in fields and may suffer due to recent rains.

Similarly, in South Australia and Victoria, where faba beans have not yet been harvested, there is an increased risk to the crop due to ongoing weather conditions.

According to the latest report from Abares, Desi gram production in Australia is expected to soar significantly, from 4.91 lakh tonnes to 18.87 lakh tonnes in the 2023-24 season, largely due to favorable weather and better sowing in Queensland and New South Wales.

On the other hand, lentil production is forecast to decline by 29%, from 15.68 lakh tonnes last year to 11.16 lakh tonnes this season, primarily due to weaker crops in South Australia and Victoria.