Reading Time: 3 minutes The fate of Winnipeg pea- and canola-based protein processor Merit Functional Foods won’t be confirmed until the end of April at the earliest. Merit, whose major shareholders include Vancouver plant-based protein firm Burcon NutraScience, U.S. agrifood firm Bunge and former executives of Hemp Oil Canada, was placed into receivership March 1. According to the first […] Read more
Bidding open for Merit Foods for two more weeks
Stakeholder Burcon plans to put up 'compelling bid'
Pulse weekly outlook: World chickpea supplies expected tight over next six months
Reading Time: 2 minutes MarketsFarm — Chickpeas are expected to be in short supply around the world over the next six months, according to a release from the Global Pulse Confederation (GPC). Hot and dry weather in India cut production prospects for that country’s kabuli chickpea crop, according to the report. Production out of Mexico also failed to meet […] Read more
Pulse weekly outlook: For growers, spring still far away
Just 'minor changes' expected in Manitoba acres
Reading Time: 2 minutes MarketsFarm — Springtime still seems distant for southern Manitoba as snow remains and freezing temperatures persist. However, provincial pulse specialist Dennis Lange said current conditions are setting up well for seeding after temperatures rise and snow melts. “We’re still a little ways off. There are still snow drifts in the fields in most areas of […] Read more
Pulse weekly outlook: Steady world trade expected in 2023
IGC sees firmer demand for dry peas in particular
Reading Time: < 1 minute MarketsFarm — World trade in chickpeas and lentils is expected to remain relatively steady in 2023, with solid demand from South Asia underpinning markets, according to the latest outlook from the International Grains Council. The IGC sees the world trade in chickpeas in 2023 at about 1.9 million tonnes, which would be unchanged from 2022, […] Read more
Pulse weekly outlook: Demand nudges lentil prices upward
Rapid rises seen leading to 'pause mode'
Reading Time: < 1 minute 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 […] Read more
Pulse weekly outlook: Manitoba growers not worried about Merit situation
Pea, canola protein processor in receivership
Reading Time: 2 minutes MarketsFarm — After Manitoba-based plant protein processor Merit Functional Foods went into receivership last Wednesday, Manitoba Pulse and Soybean Growers (MPSG) executive director Daryl Domitruk said it is not a microcosm of the province’s pulse industry. Domitruk said MPSG learned about Merit’s financial situation through the media. He also added that some Manitoba pea growers […] Read more
Merit Foods stakeholder looking to buy company
Burcon 'actively engaged' with company's receiver
Reading Time: 2 minutes One of the joint-venture owners of Winnipeg pea and canola protein processor Merit Functional Foods says it’s in talks to buy full control of the cash-strapped company. Two days after Merit entered a court-ordered receivership, Vancouver-based Burcon NutraScience announced Friday it “intends to submit a formal proposal to acquire the business.” Burcon said Merit’s receivership […] Read more
Plant protein processor Merit Foods in receivership
Company owes $95 million to EDC, FCC
Reading Time: 3 minutes The company behind a new Prairie processing plant extracting plant-based proteins from peas and canola has landed in receivership, in the high eight figures’ debt to its secured lenders. PricewaterhouseCoopers (PwC) on Wednesday announced it’s the receiver for both Merit Functional Foods Corp. and the numbered company that owns Merit’s processing plant and property in […] Read more
Pulse weekly outlook: Peas seeing good Prairie movement
Reading Time: < 1 minute MarketsFarm — Peas are seeing good movement in Western Canada ahead of spring, although prices have held steady over the past month. “The yellow pea market has some life again,” said Allan Johnston of Johnston’s Grain at Wellwyn, Sask. He added there were also a few companies chasing after some coverage for green peas with […] Read more
Pulse weekly outlook: AAFC report makes minor changes
Revisions mainly in dry peas, chickpeas
Reading Time: 2 minutes MarketsFarm — Following the latest supply and demand estimates from Agriculture and Agri-Food Canada (AAFC), MarketsFarm Pro analyst Mike Jubinville said their numbers “all seem reasonable enough.” There were only a handful of small tweaks to pulses in the AAFC report released Friday. For the most part, the revisions came with dry beans and chickpeas. […] Read more
A message from April Stewart, Country Guide's Associate Editor
