Weather will play an important role in the pricing of the new pea crop

20-Jun-2024 03:39 PM

Regina. After the completion of pea sowing in Canada, everyone's attention is now focused on the progress of the crop and the weather conditions.

Trade analysts say that during the new marketing season starting from August 2024, the fluctuations in pea prices will mainly depend on the weather.

If the weather conditions remain favorable for the next 5-6 weeks, better production of peas will be expected, which may increase some pressure on prices. But if the weather remains unfavorable, the price of peas will remain high and sharp.

According to critics, duty-free import of peas will continue in India at least till October 31, 2024. If there is no softening or stability in the domestic market price of pulses, then the import deadline can be extended.

This can benefit Russia and Canada, which are its most prominent producers and exporters in the world. In recent months,

a strong effort has been made to increase the supply of pulses in India and reduce the price. Due to the stability in the prices of peas and lentils to a great extent,

its import is decreasing and its pace is not likely to increase much in the near future. During the six months from December 2023 to May 2024, 15-16 lakh tonnes of peas are estimated to be imported in India. Only yellow peas are imported in the country.

The price of peas in the markets of Western Canada has remained stable in the last eight-ten days and buyers are showing less interest in it.

There the price of yellow peas is $ 13 per bushel, green peas $ 16 per bushel and Maple peas is $ 26 per bushel.

There has been no major change in the sowing area of ​​peas, so its production will depend on the weather conditions and there will be an atmosphere of ups and downs in the prices according to the production.