(Resource News International) — Edible pea prices in Western Canada, for both yellow and greens, have improved recently as producers begin to lock up their bins in hopes of better prices.
“I would say that values for both types of edible peas have climbed 15 cents to as much as 50 cents a bushel over the past couple of weeks, depending on the region, as producers become reluctant to sell,” said Les Aubin of Tisdale, Sask. special crops processor Walker Seeds.
Part of that reluctance, he said, has to do more with the fact that prices for canola, corn, wheat and other commodities have seen some significant increases as of late.
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Demand for peas to meet export commitments from Canada’s West Coast also has helped to strengthen the cash market for edible peas, an export source said, not wanting his name used.
“There was a fair amount of edible yellow peas booked by India from Canada earlier this year, and that is what is being shipped from Vancouver at present,” the exporter said, explaining the large vessel lineup in daily shipping data.
Much of that export business was reportedly done by the large line companies, the exporter said.
The quality of the edible pea crop in Western Canada, meanwhile, has created a fair amount of concern among end users, Aubin said.
“Buyers are definitely concerned about the quality of Canada’s pea crop and have certainly been asking a lot of questions,” he said. “Some even want to see samples before making any kind of commitment to purchase.”
Aubin noted the quality of this year’s edible pea crop varied widely, depending on the area.
Values for edible green peas, delivered to the elevator and based on Prairie Ag Hotwire data, currently range from $5.90 to $6.75 per bushel, which compares with values at the beginning of the month that ranged from $5.75 to $6.25 a bushel.
Edible yellow pea bids, based on Prairie Ag Hotwire data, currently range from $5.47 to $5.88 a bushel. At the beginning of October, those bids ranged from $5.10 to $5.26 a bushel.
