MUMBAI (Commoditiescontrol) - Lentil production in production is projected to rose 9% to nearly 2.2 Mt for 2015-16, the second largest Canadian lentil crop. Lentil production rose despite record seeded area being partly offset by lower yields, Agriculture and Agri-Food Canada said in monthly report. Production of large green lentils is forecast to be relatively unchanged from last year at 0.4 Mt, while red lentil production is expected to rise from last year 1.6 million tonnes. Production of the other remaining lentil types is expected to increase to nearly 0.2 million tonnes.
Supply is expected to decrease by 8 percent, however, due to lower carry-in stocks. Exports are expected to rise to a record 2.2 million tonnes. To-date, India, Turkey, the EU-27 and United Arab Emirates are the top export markets.
Domestic use is expected to decrease slightly, but remain above historical levels due to expectations of a below average grade distribution. Carry-out stocks are forecast to decrease sharply for the second consecutive year. The overall average price is forecast to rise above 2014-15 due to the tightening of total carry-out stocks.
During the month of October, the on-farm Saskatchewan large green and red lentil prices rose sharply to record and near record prices, respectively. This was largely due to strong export demand from the Indian subcontinent. Currently, indications point to an increase in the supply of No.1 or No.2 grade Canadian lentils for 2015-16 when compared to last year.
Large green lentil prices are forecast to maintain a C$175 per tonne premium over red lentil prices, compared to a C$135 per tonne premium over red lentil prices in 2014-15.
For 2015-16, US area seeded to lentils is forecast by the USDA at nearly 0.5 million acres, up sharply from 2014-15, due to higher area seeded in Montana and North Dakota. Assuming normal yields and abandonment, 2015-16 US lentil production is therefore forecast by AAFC at nearly 0.3 million tonne, up substantially from 2014-15. The main US export markets for lentils to-date are India and the EU-27.
(By Commoditiescontrol Bureau; +91-22-40015533)
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