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Mumbai, April 22 (Commoditiescontrol):Canadian lentil exports for the period of August to February in the 2022-23 crop year are expected to total approximately 0.5 Mt, which is higher than the same period in the previous year. The forecast for the entire crop year indicates that exports will reach 2.3 Mt, with Turkey, the United Arab Emirates, and India being the top export markets. The rise in export demand is expected to lead to a decrease in carry-out stocks. However, the overall average price for all types of lentils is projected to decrease due to increased world supply and carry-out stocks.
In Saskatchewan, the on-farm price of large green lentils increased by $75/t, and red lentils increased by $55/t during March. As a result, the average price for large green lentils is expected to maintain a $335/t premium over red lentil prices in the coming year, compared to $325/t in the previous year.
Looking ahead to the 2023-24 crop year, the area seeded in Canada is expected to marginally decrease to 1.73 Mha due to higher expected returns for other crops. Despite this, production is expected to rise to 2.65 Mt with trend yields, and supply is anticipated to increase to 2.8 Mt, despite a decrease in carry-in stocks. As a result, exports are predicted to remain unchanged at 2.3 Mt, but carry-out stocks are expected to rise, putting pressure on prices. As a result, the average price for all grades is forecasted to decrease from 2022-23 due to increased world supply, but it will remain historically high.
In the United States, the USDA March Prospective Plantings report shows a 21% decrease in the area seeded to lentils compared to the previous year, with a projected 0.52 Mac for the current year. In addition, the seeded area is expected to decrease in North Dakota and Montana.
(By Commoditiescontrol Bureau: 09820130172)
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