By Commodity News Service Canada
Winnipeg, Feb. 8 (CNS Canada) – Large fababean and pea crops in Australia are looking for homes, with farmers running into difficulties making sales.
Fababean prices in the country dropped from AUS$550 per tonne a year ago to current levels of AUS$230 per tonne, which is below the cost of production, according to reports out of the country. As a result, farmers are opting to hold onto their fababeans in hopes of getting higher prices, or using them as feed for their own animals if that’s an option.
Number 2 Laird lentils are currently topping out at about 66 cents per pound in Western Canada, while red lentils are bid up to 30 cents per pound, according to the most recent Prairie Ag Hotwire data. New crop bids are considerably lower, topping 40 cents for green lentils and 23 cents for red lentils.
Green pea prices range from C$8.00 to as high as C$9.00 per bushel in Western Canada. Yellow peas also range from C$8.00 to C$9.00 per bushel.
Large calibre (10mm) kabuli chickpeas are currently seeing prices top out at 64 cents per pound in Western Canada.