Stability in pea market due to possibility of early arrival of new crop

25-Jul-2024 08:00 PM

Regina. Pea crop is going through different stages of progress in both the major producing provinces of Canada- Saskatchewan and Alberta and its sporadic harvesting-preparation is likely to start from next month.

The buyers have focused on new goods, hence the business of old stock is seen to be sluggish. The prices of both new and old categories of peas have become quite uniform, hence there is a stagnation in the activities of buyers and sellers. 

The Agriculture Ministry of Canada has estimated the domestic production of peas to increase from 26.23 lakh tons last year to 30 lakh tons this year, while its average market price is expected to be slightly lower.

The price of yellow peas is currently running between $ 10.00-10.50 per bushel. Similarly, the price of good quality green peas is being reported to be $ 13-14 per bushel.

The price of Maple peas has come down to $ 18 per bushel. The price of the common variety of green peas is running around $1 below. 

Canada will have to face tough challenge and tough competition from Russia in the markets of China and India.

Although the production of peas in Russia is likely to be less during the current year as compared to last year because the weather remained dry and hot in some of its parts, but still the exportable stock there will be quite large,

due to which there should not be any special difficulty in meeting the needs of other countries including China-India.

The Ministry of Agriculture of Canada has estimated the export of 25 lakh tonnes of peas from the country in the marketing season of 2024-25.