Commodity Market Trends

There are stable international quotes for legumes, specifically chickpeas as we look at the commodity markets.

Fourth consecutive year of decline in Canadian surface areas

• CANADA: Spring planting areas are expected to decline for the fourth consecutive year, to the advantage of other cereals and some more profitable oilseeds such as rapeseed and soybeans. Production is expected to decrease by 5%.
  
  
• RUSSIA: By 2023, the government plans to increase the area sown to pulses, especially peas, thanks to the measures of the state programme for the effective turnover of farmland.
  
  
• INDIA: Production is likely to be lower than last year due to the reduced area sown this year, which could create a supply crisis during the new crop year, given import duties.
  
  
• PAKISTAN: Around 6,000 legume containers were stranded at ports due to the shortage of dollars in the country. 95% of national pea consumption depends on imports. The country, therefore, risks a deep supply and price crisis. Import permits are to be suspended until stocks at the ports are released.
  
  
• First declines in quotes for the yellow variety in Canada, supported in the recent period by Canadian farmers continuing to sell at lower prices. Faced with tighter supply, however, green peas became more widespread, and market stress is expected to continue until the arrival of the new crop.

• Bird flu continues to progress across Europe and is limiting the demand for peas in Europe. Stable quotes are expected in the short to medium term with likely tensions caused by reduced pea availability in France and more generally across Europe.