Spotlight on the major commodities markets as a tool to help with buying strategies, global production of lentils is on the rise.
NORTH AMERICA: Sowing operations began in the USA later than normal due to heavy snowfall in the first part of April; this was also the case in Canada. Expectations of a drop in seeding acreage in Canada were confirmed.
INDIA: Quotations fell under pressure from an abundant new crop. Quality was affected in some regions by rainfall during harvest, but on the whole, it is considered to be good to satisfactory.
AUSTRALIA: Export data for February showed a noticeable acceleration, with volumes registering a new record. India was the main destination market (55% of the total), followed by Bangladesh and Sri Lanka.
The main international markets generally maintained an upward trend, particularly in Canada, with green quotations still showing a large premium over red quotations.
For 2023/24, global production is expected to increase for the second year in a row (+5%), driven mainly by India and Canada. Increases in consumption and final stocks are also expected.
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