Pulses: India’s high pulse prices show signs of easing

Green peas. (PulseCanada.com)

CNS Canada — Following are a few highlights in the Canadian and world pulse markets on Wednesday morning, Oct. 21.

• Shortages and resulting high local prices in India remain at the forefront of the global pulse market. The government recently imposed restrictions on how many tonnes companies can store in an effort to curb hoarding. Numerous raids were conducted in some states on Tuesday in order to enforce the restrictions, according to news reports. Prices were reportedly easing in some cases, but remain high overall. Today’s news out of the country also saw cabinet ministers holding a special meeting to discuss the pulse shortages.

• India’s northeast monsoon, which typically begins on around Oct. 20, is forecast to be delayed by six days, according to weather reports. However, most meteorologists are forecasting the monsoon to bring normal amounts of rain when it does eventually hit.

• Field pea straw has both fertilizer and feed value, according to a report from Alberta Agriculture and Forestry. “The dry conditions experienced in many parts of the province this past growing season have livestock producers searching for feed… However, many producers selling or purchasing field pea straw for feed don’t know what the fertilizer equivalent or feed value of the straw is,” said Mark Olson, pulse crops unit head with the department. He recommended getting the straw tested before using it for feed or fertilizer to better determine the value.

• Green pea prices in the C$7.50-$8.50 per bushel range are being reported, while prices anywhere from C$7.50 to $9.50 per bushel can be found for yellow peas. Red lentil bids as high as 40 cents per pound are being reported in some locations, while No. 2 large green lentils are hitting prices as high as 43 to 46 cents. Smaller lentils are also hitting the 40-cent mark in some cases.

 

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