MarketsFarm — There have been some modest upticks in green and red lentil prices recently due to increased demand from India and Turkey, according to Marcos Mosnaim of Export Packers.
“We went so fast up in prices that we are getting into a pause mode,” he said.
“Buyers have to accept the new prices. So whenever you increase the price too fast, you have some pauses,” he added, noting the price will either continue moving higher or it will pull back. “Nobody knows where it can go.”
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Over the last month, prices have climbed higher for most lentils. As of Monday, Laird No. 1s and 2s gained two to three cents per pound at 50-53 cents/lb., according to Prairie Ag Hotwire. However, the Laird ‘s and Laird X3s lost one to two cents over the same time at 41-44 cents/lb.
Crimson lentils pushed upward as well, with No. 1s and 2s tacking on 3.5 cents at 30-35 cents/lb. The No. 3s and X3s bumped up a penny to 26-30 cents/lb.
Eston lentils added one to three cents just in the last week, at 30.5-45 cents/lb. depending on the size.
Richleas have been the exception to the recent increases; instead they gave up three cents at 35-38 cents/lb.
— Glen Hallick reports for MarketsFarm from Winnipeg.
