By Commodity News Service Canada
Winnipeg, Dec. 22 (CNS Canada) – Canadian pea ending stocks at the close of the current 2016/17 (Aug/Jul) marketing year will likely be larger than earlier estimates, according to updated supply/demand tables from Agriculture and Agri-Food Canada.
AgCanada’s market analysis branch raised its production estimate for peas, in line with the Statistics Canada forecast, but left its export and domestic usage numbers unchanged. Total carryout for peas is now forecast at 880,000 tonnes, which would be up by 180,000 tonnes from an earlier estimate, and well above the 176,000 tonne ending stocks reported in 2015/16.
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Lentil ending stocks were also raised by the government agency to 600,000 tonnes, from 400,000. That compares with only 73,000 tonnes the previous year.
Number 2 Laird lentils are currently topping out at about 64 cents per pound in Western Canada, while red lentils are bid up to 32.5 cents per pound, according to Prairie Ag Hotwire data.
Green pea prices range from C$8.00 to as high as C$9.50 per bushel in Western Canada. Yellow peas range from C$7.65 to C$9.00 per bushel.
Large calibre (10mm) kabuli chickpeas are currently seeing prices top out at 70 cents per pound in Western Canada, according to Prairie Ag Hotwire.
