By Commodity News Service Canada
Winnipeg, April 17 (CNS Canada) – Pulse prices in India have dropped sharply over the past year, with many commodities now trading below the Minimum Support Price (MSP) levels following a good monsoon season in 2016, according to reports out of the country.
As a result, India’s Prime Minister Narendra Modi announced an extension of the deadline for Central agencies purchasing pulses at the MSP rate by one week.
Canada exported 40,700 tonnes of peas during the week ended April 9, bringing the year-to-date total to 2.67 million tonnes, according to the latest Canadian Grain Commission data for bulk shipments. Total pea bulk exports are running ahead of the previous year’s pace by about 700,000 tonnes.
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Weekly Canadian lentil exports of 3,600 tonnes brought the year-to-date total to 671,200 tonnes, which is about 100,000 tonnes ahead of last year at the same point.
Total Canadian lentil production in thepcoming 2017/18 crop year is now forecast at 3.10 million tonnes, according to updated supply/demand tables from Agriculture and Agri-Food Canada, released April 13. That would be down from the 3.50 million forecast in March and the year-ago level of 3.25 million. The government agency left its estimate for pea production unchanged at 4.25 million tonnes, which compares with 4.84 million in 2016/17.
Top end large green lentil bids are holding relatively firm in Western Canada, with number 2 Lairds currently topping out at about 48 cents per pound, according to Prairie Ag Hotwire data. New crop bids, meanwhile, range from about 31 to 39 cents per pound.
Red lentil bids range from about 22 to 26 cents per pound, with new crop prices also topping out at 24.5 cents.
Green pea bids range from C$7.65 to $8.50 per bushel in Western Canada. Yellow peas range from $6.70 to $8.75 per bushel, according to Prairie Ag Hotwire.
Large calibre (10mm) kabuli chickpeas are currently seeing prices as high as 63 cents per pound in some cases, although a lack of supplies may limit any actual movement.
