By Commodity News Service Canada
Winnipeg, Nov. 20 – Following are a few highlights in the Canadian and world pulse markets on Friday, November 20.
– Shortages and resulting high local prices in India remain at the forefront of the global pulse market. The country’s central bank is set to review interest rates on December 1, with rising pulse prices cited in numerous news reports a major factor driving inflation in the country.
– Canadian pea and lentil exports are both running ahead of the year ago level, according to the latest Canadian Grain Commission data. As of November 15, Canada has exported 1.15 million tonnes of peas, which is up by about 50,000 tonnes from the same point the previous year. Lentil exports, at 376,900 tonnes, are over 100,000 tonnes ahead of the previous year’s pace.
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– The CGC released monthly export data for October, with India the largest destination for both peas and lentils. Other noted destinations include China, which has imported 167,700 tonnes of Canadian peas during the first three months of the crop year, or more than double the previous year’s movement during that time-frame. Bangladesh is also buying more peas, while Turkey has been a major buyer of Canadian lentils.
– Green pea prices in the C$8.00 to C$8.50 per bushel range are being reported in Western Canada. Meanwhile, yellow peas are still firm, with bids as high as C$10.00 per bushel found in some locations. Red lentil bids as high as 50 cents per pound are being reported in some locations, while number 2 large green lentils are hitting prices as high as 53 cents.
