Optimism Returns To Yellow Peas
PANAMA - Sep 14/24 - SNS -- India's decision to extend the import period for yellow peas, now allowing duty free imports for shipments with on board bills of lading dated on or before December 31 instead of October 31 was welcomed by markets.
Pressure had been mounting on yellow pea prices because of expectations production of all classes in Canada will advance from 2.608 million metric tons (MT) to between 3.0 and 3.2 million, with yellow pea output possibly advancing from 2.26 to at least 2.56 million MT.
Similarly, yellow pea output in the United States could advance from 579,000 to 666,000 MT, assuming the national production estimate of 894,400 MT, up from 818,000 last year, is correct.
Lentils Unmoved By Rising Output
PANAMA - Sep 14/24 - SNS -- International lentil markets are looking forward to the Sptember 16 model based production estimates from Statistics Canada to gain a better picture of the likely supply situation for both red and green lentils for the coming marketing year.
This year's lentil harvest in the United States is now expected to reach 445,000 metric tons (MT) from 964,400 acres, up from 260,000 MT from 546,000 acres last year. Lower average yields were more than offset by the jump in seeded area.
At the same time, Australia expects to see a moderate increase in mainly red lentil output from 1.578 million MT last year to 1.685 million.