By Commodity News Service Canada
Sept. 26 (CNS Canada) – Lentils exports have been slow moving so far this crop year, but farmers should expect more demand from India early in January, according to Mercantile Consulting Venture Inc. However, the sluggish market, which is expected to last until the end of December, will likely leave plentiful on-farm product stocks looking for sales early in 2018. Mercantile said it’s possible only 30—35 per cent of lentils will be sold by January.
However, the advisory firm added that Canada should still be able to export 2.1 million tonnes by the end of the crop year and year-ending stocks could be a small 180,000 tonnes.
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Export demand is light for peas beyond production contracts, according to Mercantile Consulting Venture Inc. Prices will likely stay relatively steady for the next little while, the firm said, but demand should pick up in the new year.
India’s kharif pulse harvest, grown during the summer monsoon season, is expected to be down almost eight per cent from last year’s record production, according to the Indian Agriculture Ministry’s first estimates for the 2017-18 crop. The summer pulse crop is estimated at 8.71 million tonnes, about 7.7 per cent below last year’s record 9.42 million tonne harvest. That’s above the average production harvested during the last five years of 6.5 million tonnes. India’s Agricultural Ministry attributed the decline to lower seeded acres and weather that caused floods in some areas and dry conditions in others.
