Weekly Review-Peas

29-Jun-2024 08:15 PM

Pea prices fall due to weak demand

Kanpur. Pea prices declined during the current week as availability remained and customer demand remained calm. Pea sowing has been completed in Canada. Canada will have to face tough competition and tough challenge from Russia in maintaining its share of pea exports in major importing countries like India and China. Pea crop is also said to be in good condition in Montana and Dakota provinces of America adjacent to Canada. Pea imports in China and India have calmed down to a great extent. The period of duty-free import of peas in India has been extended till 31 October 2024, so importers are not showing much haste. Chinese importers are buying peas in limited quantity and are waiting for the arrival of new crop in Canada as well as Russia. As the time for the arrival of new crop is getting closer, uncertainty is increasing in the market. The price of spot stock of yellow peas is being reported to be $13 per bushel and the price of next crop is $11 per bushel. Due to increased selling by importers and slow buying, the prices of imported peas declined by Rs 50/100 per quintal this week and the prices remained at Mumbai Canada Rs 4050/4100, Russia Rs 3850/3900 and currency Canada Rs 3950 and Russia Rs 3850 per quintal at the weekend. Due to lack of customers, the prices of Kanpur peas declined by Rs 50 per quintal this week and with this decline, the prices remained at Rs 4225/4250 per quintal at the weekend. Similarly, the prices of Lalitpur peas also declined by Rs 50 per quintal during the current week and the prices remained at Rs 3700/3900 per quintal at the weekend. Due to weak buying, the price of Mahoba peas declined by Rs. 100 per quintal and remained at Rs. 3800/4000 per quintal at the end of the week. Similarly, Rath peas also declined by Rs. 50 and Mauranipur by Rs. 50 per quintal this week and remained at Rs. 3850/3900 at Rath and Rs. 3800/3880 per quintal at Mauranipur at the end of the week. Due to the impact of all-round decline and weak demand, the price of peas in the markets of Madhya Pradesh also declined by Rs. 50/100 per quintal this week and remained at Rs. 3750/3900 at Bina and Rs. 3800/3950 per quintal at Damoh.

Pea dal

Due to the impact of decline in pea prices, sales of pea dal remained calm this week and no increase or decrease was seen in the prices and the prices remained stable at Rs. 4600/4650 at Kanpur and Rs. 5000/5050 per quintal at Indore at the end of the week.