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Lentil prices in Western Canada have seen a sharp decline over the past month, but weather events could provide a bit of a boost.

Lentil and pea bids in Western Canada have softened over the past month, as all agricultural markets react to ongoing global trade uncertainty.

A healthy snowpack in Saskatchewan will provide good subsoil moisture before lentil seeding this spring, but other factors are dragging down prices.

At this time of year the pulse market is generally quiet, said broker Marcos Mosnaim of Prairie XI. However, he wasn’t entirely sure as to why most pulse prices were currently unchanged across Western Canada.

Pulse Canada says it wants trade policy to be at the forefront of the federal election. The organization that represents pulse growers, traders and processors noted that more than 85 per cent of the pulses produced in Canada are destined for export.

Prices for new crop pulses will largely determine how many acres will be grown this spring, according to Levon Sargsyan of Johnston's Grain in Calgary.

The demand for lentils has backed off lately due to high prices, said trader Marcos Mosnaim of Prairie IX in Toronto. He said the direction lentils take will largely depends on India.

Duty-free exemptions for pea and lentil imports into India are set to end over the next few weeks, but a recent extension for pigeon pea imports has led to speculation that the peas and lentils Canada ships to the country could also see their duty-free status extended.

As the deadline for the government of India to further extend its tariff-free period for pea imports expired on Feb. 28, there has yet to be any statement regarding levies on the country's future pea imports.

MarketsFarm -- There has been a divergence of prices between green and red lentils so far in 2023, according to Levon Sargsyan of Johnston Grains at Weyburn, Sask. Sargsyan said he hasn't seen too many acres of green lentils signed up for this year, while it's the opposite case for the reds. "I'm seeing some[...]