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Global Lentil Market Update

30 May 2024 5:52 pm
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Canada: Intermittent rains have significantly improved topsoil moisture across the Canadian prairies, aiding the ongoing planting season. Approximately 85% of lentil seeding is complete, with completion expected within a week, weather permitting. Despite favourable conditions, the projected average yield of 1,200 lbs per acre remains below pre-COVID levels of 1,350 lbs. Canada estimates a production range of 2.25 to 2.30 million metric tons (MT) for 2024, with red lentils comprising the majority at 1.4-1.5 million MT.

Australia: Major growing regions in Victoria and South Australia have experienced minimal rainfall, with critical precipitation needed in South Australia to support newly planted crops. About 90% of southern Australia's crop is planted, but only 30% has received adequate rainfall for proper germination. The official crop estimate is expected to be around 1.4 to 1.45 million MT.

USA: Lentil seeding in the USA is nearly complete, with a 40% increase in seeded area to 762,000 acres, the largest since 2018. An average yield of 1,100 lbs per acre is projected, resulting in a production of approximately 350,000 MT, a 30% increase from previous years.

Russia and Black Sea Region: Russia's agricultural outlook remains grim due to spring frosts affecting crops in 23 regions, potentially reducing yields by 15-20%. Major lentil-growing areas such as Saratov, Samara, and Siberia are also impacted. Russia had initially planned a substantial increase in lentil planting to 250,000 hectares, which could have produced about 275,000 MT, but drier conditions threaten to reduce this output.

Kazakhstan: Excessive wet conditions in North-central Kazakhstan are delaying and discouraging lentil planting. Production, which peaked at 313,000 MT in 2017, is unlikely to see the planned expansion due to adverse weather conditions.

Turkey: Facing an inflation rate of 69.8% in April, Turkey's market remains sluggish due to liquidity issues. The harvest of red lentils has started with poor arrivals and high moisture levels due to recent rains. This year's red lentil crop is estimated at 325,000 MT, down from 424,000 MT in 2023. Green lentil output is projected at 85,000 MT, an increase from 50,000 MT last year.

India: The Indian monsoon has commenced in parts of Kerala, with predictions of an above-normal season. The trade expects the 2024 red lentil crop to be between 1.1 to 1.2 million MT, below the government's estimated 1.65 million MT. A recent surge in red lentil prices indicates either a smaller production or farmers holding onto stocks in anticipation of higher prices.



(By Commoditiescontrol Bureau; +91 9820130172)


       
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