Chuck Penner with LeftField Commodity Research gave a pulse market outlook to producers in Swift Current, SK last week.
Canada had a larger pea crop last year and saw strong demand with China buying two million tonnes in 2019.
He notes that we had moderate ending stocks for 2019-20 and new crop pea bids are kind of mediocre.
“So, they're not going to inspire a whole lot of interest from farmers so my best guess is probably kind of flat acres. And that could actually help prices longer term because you know if you have average yields, and we continue to have strong demand, especially from China. We’ll see supplies tighten up a little bit more.”
Penner says for lentils, India has been buying sizeable volumes again even with the tariffs, but the real advantage has been Turkey’s interest in red lentils.
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