By Commodity News Service Canada
Winnipeg, June 1 (CNS Canada) – Following are a few highlights in the Canadian and world pulse markets on Wednesday, June 1.
– India’s government is raising the minimum support price (MSP) for kharif season crops, including pulses, announced the country’s agriculture minister. The increase will be ‘above expectations’ according to the minister, and will hopefully lead to an increase in domestic plantings while also reducing the reliance on imports.
– The USDA has tendered to purchase 400 tonnes of yellow peas for shipment as food aid.
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– India’s annual south-west monsoon is set to begin over the next week, with official forecasts from the country pegging the onset at somewhere between June 3 to 9. India has seen two straight years of poor monsoons, which cut into production and caused pulse prices to rise sharply. Farmers in the country are banking on better precipitation this year.
– Top end green pea prices in the C$9.00 to C$9.75 per bushel range being reported in Western Canada. Meanwhile, top end yellow peas are going for as much as C$13.50 per bushel in some locations. Red lentil bids of 50 cents per pound are now being reported in some locations. Meanwhile, number two large green lentils are still hitting prices as high as 70 cents, but number ones have moved off their 80 cent highs to top out at 76 cents per pound at some locations.
– Chickpea prices in Western Canada remain strong, with large caliber Kabuli’s trading as high as 58 cents per pound – a two cent rise from the previous week.
