Yellow pea prices soften in Canada's Prairie region, green pea prices stable

09-Oct-2024 09:02 PM

Vancouver. At the beginning of the current month, yellow pea prices softened a bit in the Prairies region of Western Canada, while green pea prices remained stable.

A broker says that 10 months ago when the Indian government made yellow pea import duty free, its prices rose and even now producers are targeting higher prices, but currently the prices have softened.

According to the broker, the price of yellow pea in Canada was earlier running at $ 11.50-12.00 per bushel, which has now softened to $ 10.50-11.00 per bushel.

There is a doubt mark on the Indian market. The Indian government is planning to withdraw the exemption in import duty on peas at the end of October.

If this happens, the import of yellow pea there may come to a complete halt. It is noteworthy that before December 2023, not only was a basic import duty of 50 on the import of peas (yellow) in India, but some strict conditions were also imposed due to which its import was not happening there.

Canadian exporters will need a long time to continue the export of yellow peas to India because it takes a lot of time for the ship to reach from there.

If the time limit for duty-free import is extended, the demand and price of yellow peas may improve. As far as green peas are concerned, its price is firmly stuck at $ 15.00-15.50 per bushel.

Total pea exports from Canada declined from 25.70 lakh tonnes in the 2022-23 season to 24 lakh tonnes in 2023-24, of which about one-third was shipped to India.