Pulses: Festivals, supply issues to keep India’s prices high

Kabuli chickpeas. (PulseCanada.com)

CNS Canada — Following are a few highlights in the Canadian and world pulse markets on Thursday morning, Oct. 15.

• Analysts say pulse prices will likely remain high in India as the market there faces a potent mix of lowered output, steady demand from festivals and slow imports that already fall short of demand. Imports are scheduled to pick up but insiders say it won’t fully cover what’s needed.

• The effects of El Nino are starting to be felt on chickpea crops, north of Sydney, according to a report. Local farmers say rain is needed to aid the heat-stressed crops.

• The government of Myanmar says the country’s supply of beans and pulses is quite low, due to flooding this year that destroyed 1.5 million acres of paddy, along with high demand from India.

• The four-day International Agricultural Leadership annual conference kicks off today in North Dakota. Over the next two weeks agricultural leaders and delegates from universities and private foundations will study the question of how the state’s oil and farm sectors can better work together. While wheat, corn and soybeans are listed as the top three crops in the state, one stakeholder says lentils and peas also hold economic significance. The conference follows on the heels of a similar one staged last week by the North Dakota Petroleum Council.

• The price of chickpeas is trending downward slightly, according to an analyst. However, he notes India has been the primary buyer over the past four months. Other noted players such as Bangladesh, Pakistan and the UAE are not interested at the current price. Many farmers are also concerned about selling into the market due to recent volatility.

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