By Commodity News Service Canada
Winnipeg, Nov. 16 – Following are a few highlights in the Canadian and world pulse markets on Monday, November 16.
– Shortages and resulting high local prices in India remain at the forefront of the global pulse market. Planting of the rabi season crops has reportedly slowed due to poor moisture conditions in some areas.
– India’s CRISIL Research has released a report linking the rise in pulse prices to a trend that should see increases above the rate of inflation every three years. While such spikes have happened in the past, the current increase in pulse prices was much higher than other recent peaks, according to the report.
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– Canada has exported 1.136 million tonnes of peas and 377,000 tonnes of lentils during the 2015/16 crop year to date, according to the latest Canadian Grain Commission data. Exports of both pulse crops are running ahead of the year ago level.
– Green pea prices in the C$8.00 per bushel range are being reported in Western Canada, with top end bids down as much as fifty cents over the past week. 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.
