Kanpur. Pea prices continued their downward trend during the current week. Increasing selling pressure and sluggish buying have kept prices low. Despite demand arising from ample stock availability and steady import supplies, prices are failing to find support. Consequently, pea prices remain under pressure. This year, there are indications of increased pea production in major producing countries such as Russia, Canada, and the United States. This improved yield will increase exportable stocks, which could intensify competition in the global market and keep prices under pressure. Canada is particularly under pressure as China has imposed a 100% import duty on peas, and India is also showing little interest in purchasing. There are talks of increasing tariffs or imposing non-tariff controls on peas in India, which could raise concerns for Canadian exporters. Current prices in Canada are Yellow Peas: $6.40–6.75/bushel, Green Peas: $9.50–10.00/bushel, and Maple Peas: $9.00–9.50/bushel.

Due to continued selling pressure from importers and sluggish demand, imported pea prices declined by Rs. 100/125 per quintal during the current week, and the weekend prices were Rs. 3350/Russia for Mumbai, Rs. 3100/Russia for Canada, Rs. 3100/Russia for Mudra, Rs. 2925/Russia for Russia. Similarly, Kolkata pea prices also declined by Rs. 50 per quintal this week, and the weekend prices were Rs. 3650/3700/Russia for Canada, Rs. 3300/3350 for Russia. Kanpur pea prices declined by Rs. 75 per quintal this week, and the weekend prices were Rs. 3325/3375 per quintal. Similarly, the prices of Lalitpur peas declined by Rs 150/200 per quintal this week and remained at Rs 2800/3100 per quintal at the weekend. Due to weak demand, the prices of Mahoba peas declined by Rs 50 per quintal this week and remained at Rs 3100/3250 per quintal at the weekend. Similarly, the prices of Rath peas also declined by Rs 50 per quintal this week and remained at Rs 3000/3200 per quintal at the weekend. Due to the impact of all-round decline and sluggish demand, the prices of Madhya Pradesh peas declined by Rs 50/75 per quintal this week and the prices remained at Rs 2800/3000 in Bina and Rs 3100/3175 per quintal in Damoh at the weekend.

Due to sluggish demand, the prices of Peas Dal declined by Rs 150 per quintal during the last week and with this decline, the prices at Kanpur ended the week at Rs 3550/3600 and Indore at Rs 3850/3900 per quintal.