(Resource News International) — Firm demand and a lack of competition in the international markets should keep lentil prices in Western Canada well supported into the spring, despite Canada’s increased production on the year. However, new-crop prices will likely be considerably lower.
“There is solid demand for all varieties of lentils,” said Greg Simpson, president of Simpson Seeds at Moose Jaw, Sask.
While Canada’s large 2009-10 lentil crop had originally weighed on prices at harvest time, the demand has also been strong and prices have improved considerably for both red and green lentils.
Read Also
Senft to step down as CEO of Seeds Canada
Barry Senft, the founding CEO of the five-year-old Seeds Canada organization is stepping down as of January 2026.
Red lentils were currently priced around 38 cents per pound, while large green lentils are bid around 38.5 cents per pound, Simpson said.
India took close to 200,000 tonnes of red lentils at harvest time, and there has also been good demand from Middle East, Simpson said, noting that Turkey had a shortfall in its production this year.
The Australian crop was also not as good as expected, with poor quality due to rain at harvest.
Turkey’s upcoming red lentil crop will not be harvested until May-June, which means “we have a window between now and the Turkish harvest where Canada is basically the main source for red lentils,” said Simpson.
India also bought green lentils after the harvest in order to help depress domestic pulse prices. While India is not in the market anymore, Simpson said Canada was still filling green lentil demand from Iran, Turkey and the Mediterranean market.
While a large portion of farmers are still waiting for lentil prices to hit 40 cents per pound, Simpson said current values represent a good pricing opportunity.
“My message to farmers would be ‘Don’t miss the opportunity to move your crop while we have willing buyers between now and spring,'” said Simpson.
Looking ahead to the 2010-11 crop, “unless we have a crop failure here in Canada, prices will be down substantially,” said Simpson.
While Simpson thought prices could move to the 22 cents per pound level, it would still make lentils the most profitable crop for many producers.
“It’s a matter of time,” said Simpson on the eventual decline in prices. “We don’t know what factor will be the one that will actually start to run the market down, but at this moment it’s safe to say that when the new crop arrives prices will be down substantially… between now and then, it’s really anybody’s guess.”
