The demand for lentils has backed off lately due to high prices, said trader Marcos Mosnaim of Prairie IX in Toronto. He said the direction lentils take will largely depends on India.
An expected increase in Canadian lentil and pea exports in 2024/25 is unlikely to result in higher prices, as increased production should cause the stocks-to-use ratios to widen.
An ongoing dispute between Canada and India involving the assassination of a Sikh man on Canadian soil has Canada's lentil market fearing that one of its largest trading partners may shut its doors to the pulse.
Prices for green lentils were steady to higher for the week ending Sept. 27, according to Prairie Ag Hotwire. A broker credited increased foreign demand.
Dry peas saw sharp reductions in Statistics Canada's report on grain stocks as of July 31. Released on Sept. 9, the StatCan report showed on-farm and commercial dry pea stocks at a combined 348,000 tonnes, down from 550,000 the previous July. The current stocks also came in below the five-year average of 398,600 tonnes.
Lentil combining in southeast and southwest Saskatchewan were 10 per cent complete as of Aug. 5, according to that province’s crop report. Harvesting of the pulse was six per cent done in the west-central region, while most of Saskatchewan’s lentil crop was still standing. Over in Alberta, the combining of pulses was expected to get underway this week.
Delivered prices for green peas across the Prairies ranged from C$12.50 to C$14.21 per bushel as of July 26, according to Prairie Ag Hotwire. The latter price was down C$4.27 from last month but only four cents lower than last year. For yellow peas, delivered prices ranged from C$9.75 to C$11.40/bu., down C$1.60 from last month and down C$1.40 from last year.