By Commodity News Service Canada
Winnipeg, Jan. 26 – Following are a few highlights in the Canadian and world pulse markets on Tuesday, January 26.
– Agriculture and Agri-Food Canada is forecasting a significant increase in pea and lentil area this spring. In its first forecast for the 2016/17 crop year, the government agency estimated dry pea seedings at a record 4.2 million acres, which would be up from the 3.7 million acres seeded the previous year. Lentil area is forecast at 4.4 million acres, which would also be a record for the crop and 500,000 acres above what was planted in 2015.
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– India’s government is tendering to purchase 5,000 tonnes of pigeon peas in an effort to control domestic prices. The tender is the second this month, as drought issues in the country have limited local pulse supplies.
– Pulse importers and cartels in India have been buying Canadian lentils at above market prices and hoarding the supplies in an effort to create artificial shortages and run up local prices, according to a report from India’s Intelligence Bureau, recently presented to the country’s government.
– Green pea prices in the C$9.00 to C$9.75 per bushel range are being reported in Western Canada. Meanwhile, yellow peas are also strong, with bids as high as C$13.00 per bushel now reported in some locations. Red lentil bids as high as 54 cents per pound are being reported in some locations, while number two large green lentils are now hitting prices as high as 70 cents and number ones have topped 75 cents at some locations.
– Chickpea prices in Western Canada also remain strong, with large caliber Kabulis’s trading as high as 46 cents per pound.
