Mumbai, 26. Aug (Commoditiescontrol):According to the latest data from Agriculture and Agri-Food Canada (AAFC), Canadian lentil exports saw a remarkable increase in 2022-23. Exports climbed to a whopping 2.3 million tonnes (Mt), which is 41% higher than the numbers reported the previous year. A breakdown reveals that 1.6 Mt of the total exports were red lentils, while green lentils accounted for 0.7 Mt. The top importers of these lentils included countries like India, the United Arab Emirates, and Turkey.
However, domestic consumption of lentils in Canada seemed to have decreased, with the numbers settling at 0.25 Mt, which is lower than the figures from 2021-22. Additionally, carry-out stocks dwindled down to just 0.1 Mt. Interestingly, even with the surge in exports, the average price of lentils in Canada dipped by 15%, failing to match the record high set in 2021-22. Among the lentils, the No.1 large green lentil maintained a significant lead in pricing, averaging a crop year premium of $400/tonne (t) over the No.1 red lentil.
Predictions for the upcoming year, 2023-24, are not as optimistic for lentil producers. Production is anticipated to fall by 22% to 1.8 Mt. One of the main culprits behind this decline is the dry crop conditions experienced in Western Canada, which has resulted in both higher abandonment rates and lower yields. This had an impact on both red and green lentil areas. Saskatchewan, a significant lentil producer, is forecasted to deliver 87% of the lentil production, while the remaining portion will come from Alberta and Manitoba. With the expected drop in yields combined with the smaller carry-in stocks, supplies are projected to experience a sharp decline. As a result, exports might dip to 1.6 Mt due to a reduced exportable supply. Conversely, carry-out stocks are expected to see a slight increase from the previous year. Prices, on the other hand, might see a modest rise from 2022-23, given the anticipated similar global supply of lentils.
Looking southwards, the US also shows changes in their lentil production scenario. For 2023-24, the United States Department of Agriculture (USDA) projects a 19% decrease in lentil-seeded areas, settling at 0.53 million acres. This reduction is mainly attributed to a lesser area seeded in Montana. Despite this, the AAFC forecasts that the US lentil production might see a slight increase of 2% from the previous year, estimating a production of 0.25 Mt. Major US export destinations for lentils are anticipated to remain Canada, Mexico, and the European Union.
(By Commoditiescontrol Bureau; +91-9820130172)
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