Red lentil prices remain weak in Canada in 2023-24 season

02-Aug-2024 06:09 PM

Vancouver. The 2023-24 marketing season in Canada officially ended on July 31 and the new marketing season of 2024-25 began on August 1.

The price of red lentils in the Canadian market, traded between dealers, declined by about 7 percent in the 2023-24 season as compared to the average price level of the last three years.

The average trading price of red lentils during the season under review was recorded at US$31.48 per 100 pounds (cwt), while its average price was $34.02 per cwt in the last three years.

This price was for red lentils processed by machine and packed in bags for commercial trade, for delivery to Montreal.

Analysis of the monthly price pattern shows that the highest monthly average price was recorded in September 2023 at $34.19 per cwt while the lowest average price was recorded in March 2024 at $29.80 per 100 lbs.

The Canadian Ministry of Agriculture has expressed the possibility of further softening of lentil prices in the current marketing season (August-July) of 2024-25 as production is expected to increase in Canada and good yields are also expected in Russia and Australia,

which may increase competition in a huge and important market like India. Harvesting and preparation of the new lentil crop in Canada is likely to gain momentum soon.