Peas Enter Marketing Year On Easier Note
PANAMA - Aug 5/22 - SNS -- North American field pea markets continued to ease during the past week, with harvest activity reported across much of the growing area.
The impact is attention has now turned to marketing new crop product, with exporters trying to find values which will attract demand.
The harvest started the week at 19% complete in the United States, down from 38% at the same time last year, but equal to the recent five year average. The Canadian harvest was around 1% complete, down from around 11% last year and the recent average of 4.6% complete vt the end of July.
Lentils Continue Drifting
PANAMA - Aug 5/22 - SNS -- International lentil markets maintained their downward drift during the past week, reflecting the start of North American harvest activity and worries about the impact improved yields will have on the competitive environment in the coming months.
Worries about the impact of this year's production is being reflected in Australian red lentil markets, with its exporters adjusting values to ensure they remain competitive once buyers on the Indian subcontinent return to markets.
Markets are also gaining an improved sense of residual stocks in Canada, with the Canadian rain Commission reporting the 2021-22 marketing year finished with 134,000 metric tons (MT) of lentils on hand, up from 108,000 T last year.