Mumbai, 22 Nov (Commoditiescontrol): Canada's dry pea production is projected to plummet by 34% for the 2023-24 season, with a forecast of just 2.3 million tonnes (Mt). This downturn, mainly attributed to reduced yields in Saskatchewan—a region responsible for over half of Canada's pea cultivation—marks a substantial change from previous years.
The production decrease spans across both yellow and green pea varieties. Estimates suggest yellow pea production will drop to 2.0 Mt, and green pea production to a mere 0.25 Mt. Other dry pea types are also expected to decline, reaching only 55 thousand tonnes (Kt). Despite this, the overall supply, cushioned by higher initial stocks, is predicted to be 26% below last year at 2.8 Mt.
Export forecasts are equally bleak, with a significant reduction to 1.9 Mt. During the critical August to September period in 2023, China and the United States remained Canada's primary dry pea markets. With the impending supply contraction, carry-out stocks are expected to sharply diminish. Consequently, the average price for dry peas is poised to increase by 5% from the previous season, reaching $420/tonne, driven by robust spot market demand.
In a noteworthy development, Saskatchewan’s on-farm prices for yellow peas decreased by $5/t in October, while green pea types experienced a $10/t reduction. However, this season's crop quality is reportedly superior to last year, with a higher proportion achieving No. 1 and No. 2 grades. Nevertheless, the overall reduced output will inevitably lead to a smaller supply of these high-grade dry peas.
Contrasting with Canada's declining trend, the United States is experiencing growth in its dry pea sector. The USDA anticipates a 3% increase in dry pea planting, totaling 0.95 million acres. This expansion, primarily in North Dakota and Montana, accompanies expectations of above-average yields. Consequently, US dry pea production is forecasted to rise by 14% to 0.78 Mt. Key markets for US dry peas include Canada, the Philippines, and India.
(By Commoditiescontrol Bureau; +91-9820130172)
0 Comments 
Post Comment 
