Commodity Market Trends

Looking at the commodities in 2023, lentil production in the EU revised downwards.

Declining Surfaces in Canada and Crisis in Pakistan

• AUSTRALIA: Very high production estimates confirmed. However, the pace of exports is still slow due to harvesting delays.
  
  
• CANADA: Spring sowing areas are expected to decline. However, production is expected to increase.
  
  
• PAKISTAN: Around 6,000 legume containers were stranded at ports due to the shortage of dollars in the country. National lentil consumption is 100% dependent on imports. The country therefore risks a deep crisis in supply and prices. Import permits are to be suspended until stocks at the ports are released.
  
  
• Supply from Australia and Canada is driving the decline in red crop quotes. In addition, the outlook for the upcoming Indian harvest is confirmed as positive, both in terms of areas sown and growing conditions.
  
  
• The green market, on the other hand, continues to offer little sign for possible declines in the short to medium term.
  
  
• For the market as a whole, Canadian exports remain to be monitored at least throughout the first half of the year. After abundant sales in the first part of the campaign, they may slow down due to ending stocks, developments for spring sowing, and weather in North America.