Lentils Remain Nominally Stronger
PANAMA - Oct 18/24 - SNS -- International lentil markets finished the week's trading on a nominally firmer note, suggesting both exporters and importers are more focussed on short term shipping needs.
Many buyers are surprised that their expectations of significantly lower average prices for green lentils are not being realized.
Available data suggests global output is up 36% over last year at 1.462 million metric tons (MT). Though global trade is expected to increase, residual stocks of green lentils could more than double to 311,000 from the 2024 harvest.
Peas Supported By India
PANAMA - Oct 18/24 - SNS -- Field pea markets maintained their firm tone through the past week against relatively strong opening season shipments from Canada and other origins.
India's emergence as a major buyer of peas since late in 2023 has been a source of frustration for some yellow pea importers in countries such as China because of the impact on global prices and stocks.
India's pea imports reached a period record of 2.143 million MT between January and August, well above the previous record of 1.807 million MT set 2017. Receipts in August continued the month over month downtrend in place since they peaked in March at just under 672,000 MT.