Weekly Review-Peas
15-Feb-2025 08:03 PM
Pea prices rise due to strong demand
The weekly review of pea prices indicates a significant upward trend driven by several factors:
Import Deadline Impact: The duty-free import deadline for yellow peas ends on 28th February 2025, creating uncertainty around the potential for increased import limits. This has led to stockists becoming more active, which has helped push prices up.
Export Performance: Canada's pea exports showed better performance this year, despite a slight drop in December exports compared to November. However, the total exports from August to December 2024 were higher than in 2023, supporting the overall demand for peas.
Price Increases: The combination of weak selling from importers and improved buying has resulted in a price increase for peas. For instance, imported peas saw a rise of Rs 125-150 per quintal, with prices for Canadian peas reaching Rs 3900-3925 and Russian peas at Rs 3800-3825. Domestic pea prices in Kanpur, Lalitpur, Mahoba, and other regions also saw substantial increases due to better demand.
Pea Dal Prices: The rise in pea prices has had a direct impact on pea dal prices, which increased by Rs 250 per quintal. In Kanpur, pea dal prices reached Rs 4400-4500 per quintal by the weekend.
Overall, the pea market is witnessing strong demand and price increases, driven by both domestic and international factors.