Pulse weekly outlook: Yellow pea prices stronger since harvest

MarketsFarm — Yellow pea prices on the Prairies have shown strength since harvest, as they’ve seen an appreciable change in demand from India.

Darwin Hamilton of Kalshea Commodities in Winnipeg said India is always looking to increase its pulse acres. But, in the event of shortages, it’s been turning to North America for yellow peas.

“They only import yellow peas if their chickpeas and other pulses don’t work out,” he said.

Around harvest time, he said, yellow pea prices were around $6.50-$6.75 per bushel, but lately they’re closer to $8.25-$8.50.

Green pea prices typically have a price premium when compared to their yellow counterpart, but are in a comparable range of $8.50-$9.

Yellow pea prices may continue to climb in the new year, as some expect planted acreage to be down by as much as 15 per cent.

In 2020, 4.25 million acres of dry peas were planted, with Saskatchewan growing the lion’s share of the crop for both years. In 2019, 4.3 million acres of dry peas were planted.

— Marlo Glass reports for MarketsFarm from Winnipeg.

Related Articles

Comments

explore

Stories from our other publications