By Commodity News Service Canada
Winnipeg, Nov. 17 – Following are a few highlights in the Canadian and world pulse markets on Tuesday, November 17.
– Shortages and resulting high local prices in India remain at the forefront of the global pulse market. The Financial Times of India had a report out today describing the country’s ‘dal shock’, noting that the shortages and resulting high prices were especially hurting those poorer people who rely on pulses as their primary protein source.
– Lentil prices in Australia have hit historic highs, due to the Indian demand and domestic production problems, according to reports out of the country. While Canadian lentils have a much longer trip to the Indian sub-continent, Canadian lentils are still undercutting the Australian supplies by as much as $150 per tonne, according to Australian exporters.
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– Green pea prices in the C$8.00 to C$8.50 per bushel range are being reported in Western Canada. Meanwhile, yellow peas are still showing some improvement, with bids as high as C$10.00 per bushel found in some locations. Red lentil bids as high as 45 cents per pound are being reported in some locations, while number 2 large green lentils are hitting prices as high as 51 cents.
– New crop pricing for both peas and lentils is already available at levels well above last year’s contracted prices. However, there are some ideas that destination markets will not be able to sustain their demand at these high levels, which could eventually lead to a correction in the Canadian market.
