Kanpur. Pea prices have seen an upward trend this week. Selling has almost stopped due to recent low prices, while increased buying has supported the market. The recent rise in chickpea prices has led to a shift in pulse millers' interest in peas. Peas are being used as a substitute for chickpeas due to their high prices, leading to a significant increase in demand. Pea prices have risen due to increased demand and limited sales. Pea prices remain under pressure due to good harvests in Western Canadian markets and limited export demand. Pea production in Canada has improved this season, but demand from major importing countries like India and China remains weak. Importers are hesitant to enter into long-term contracts due to the fear of reimposing import duties on yellow peas in India, while China has already imposed a 100% duty on Canadian peas. Due to this, yellow pea prices have fallen to $6.50 per bushel, although they remain in the $7.25–$7.75 range due to limited trading in some areas. Green pea and pea prices have also remained relatively stable, but export demand remains sluggish. Intense competition from Russia and Ukraine has further complicated the situation for Canada.

Due to weakening import sales and increased demand, imported pea prices rose by Rs. 100/200 per quintal during the current week, reaching Rs. 3450 per quintal in Mumbai, Rs. 3250 per quintal in Russia, Rs. 3225/3250 per quintal in Mudra, and Rs. 3125/3150 per quintal in Russia. Similarly, pea prices in Kolkata also increased by Rs. 50 per quintal this week, reaching Rs. 3700/3750 per quintal in Canada and Rs. 3350/3400 per quintal in Russia. Due to strong demand, Kanpur pea prices increased by Rs. 150 per quintal during the current week, reaching Rs. 3500/3550 per quintal at the weekend. Similarly, Lalitpur pea prices increased by Rs. 100 per quintal this week, reaching Rs. 2950/3150 per quintal at the weekend. Mahoba pea prices increased by Rs. 100 per quintal this week, reaching Rs. 3100/3400 per quintal at the weekend due to increased buying. Similarly, Rath pea prices also improved by Rs. 50 per quintal this week, reaching Rs. 3000/3200 per quintal at the weekend. Supported by widespread support and increased demand, Madhya Pradesh pea prices increased by Rs. 100 per quintal this week, reaching Rs. 2900/3100 per quintal at the weekend in Bina and Rs. 3150/3275 per quintal at Damoh.

Due to increased buying and support from the bullish trend, the prices of Peas Dal have increased by Rs 150 per quintal during the current week and with this increase, the prices have reached Rs 3600/3650 in Kanpur and Rs 3900/3950 per quintal in Indore at the end of the week.