MDEX / KLC IS CLOSE TODAY (10 Feb 2025) EVENING SESSON AND TOMORROW (11 Feb 2025) FULL DAY.
login_img.jpg
Login ID:
Password:
Partner Login
Contact Us : 7066511911

Yellow Pea Market: Production Rises, Prices Face Pressure Amid Higher Stocks AAFC

21 Nov 2024 10:22 am
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

Mumbai, 21 Nov (Commoditiescontrol): Canada’s yellow pea production is projected to grow 21% year-over-year to 3.16 million tonnes (Mt) in the 2024-25 crop year, driven by improved yields, particularly in Saskatchewan, which accounts for 53% of the nation’s output. According to the latest Agriculture and Agri-Food Canada (AAFC) report, total supply is expected to rise 6% to 3.5 Mt despite lower carry-in stocks.

Exports Hold Steady as Stocks Build

Exports are forecast to remain stable at 2.4 Mt, with China and India leading as key markets. However, increased supply is driving a sharp rise in carry-out stocks, projected to reach 0.45 Mt, underscoring the need for sustained demand to prevent inventory pressures.

Prices Under Pressure

Weaker spot prices across all pea varieties are expected to push the average yellow pea price down by 12% to USD 405 per tonne. Despite this, October saw on-farm prices in Saskatchewan edge up by USD 15 per tonne, supported by steady export demand.

Global Competition Intensifies

The report notes a 7% increase in U.S. yellow pea production to 0.87 Mt, fueled by higher yields and expanded planting in North Dakota. The U.S. remains a strong competitor, with exports primarily targeting Canada, the Philippines, and China.

Market Outlook

While higher production strengthens Canada’s position in global markets, rising stocks and declining prices highlight the importance of maintaining export momentum. Navigating these challenges will be critical for sustaining market stability amid growing global competition.

(By Commoditiescontrol Bureau; +91-9820130172)


       
  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated
0.0

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  
   

Post Comment  

Latest Special Reports
U.S. Delays Tariffs on Mexico and Canada, Easing Pressu...
Special Report : Tur / Chana / Masoor / Matar Technical...
Indias Masoor Imports Drop 45% YoY; Australia, Canada L...
Higher Yields Drive Record Lentil Production in Canada,...
Canada Leads Yellow Pea Imports as Duty-Free Policy Res...
more
Top 5 News
Weekly: Sugar Futures Decline Amid Stronger Dollar and ...
Weekly: Cotton Futures Experience Slight Weekly Decline...
CFTC Data Shows Cobalt Market Weakens as Managed Money...
CFTC Data Reveals Surge in Bullish Copper Bets on COMEX...
CFTC Data:Corn Market Gains Momentum as Speculative Int...
Top 5 Market Commentary
CBOT CLOSE - 10 Feb 2025
India Allows Exports of Millet-Blended Wheat Flour Unde...
Clove Prices Steady Amid Ample Supply, Market Awaits Ne...
Domestic Pepper Prices Steady After Recent Decline; Har...
ZCE Cotton And Yarn Evening Closing - 10 FEB 2025
Copyright © CC Commodity Info Services LLP. All rights reserved.