Glacier FarmMedia | MarketsFarm — Lentil and pea bids in Western Canada have softened over the past month, as all agricultural markets react to ongoing global trade uncertainty.
Large green lentil bids in Western Canada top out at 51 cents per pound, according to Prairie Ag Hotwire data, having lost about four cents off the high end over the past month. That compares with new crop bids in the 40 to 45 cents per pound area.
Red lentils have also edged lower over the past month, with old crop pricing in the 28.5 to 32 cents per pound area, and new crop bids of 27 to 29 cents per pound.
Read Also
U.S. grains: Wheat futures rise on supply snags in top-exporter Russia
U.S. wheat futures closed higher on Thursday on concerns over the limited availability of supplies for export in Russia, analysts said.
India has been the largest export destination for Canadian lentils through the first seven months of the 2024/25 marketing year, according to Statistics Canada data, accounting for over a third of the 1.44 million tonnes exported through February. However, the country has imposed 10 per cent tariffs on lentils beginning April 1. Pulse Canada doesn’t expect the broad lentil tariff will be enough to hamper lentil sales significantly. However, a bilateral trade deal between Australia and India may be opening the door for more Australian business at the expense of some Canadian lentils.
Under the Australia-India Economic Cooperation and Trade Agreement (AECT), Australia can export up to 150,000 tonnes of lentils to India at half the standard import duty.
Pea bids in Western Canada have also weakened over the past month, with both green and yellow peas down by over a dollar per bushel from March, reported Prairie Ag Hotwire. Old crop green peas are currently trading around C$14.50 to C$16.25 per bushel, while yellow peas are priced around C$9.00 to C$10.00. New crop green peas are about two dollars below the old crop pricing, while yellow peas are relatively steady.
Meanwhile, kabuli chickpeas have shown some modest strength, improving by about a penny per pound over the month. Large diameter kabulis were trading at 30.5 to 34.8 cents per pound in late-April, with new crop pricing in a similar range, according to Prairie Ag Hotwire.
Canada’s raw materials price index (RMPI) for pulses held at 141.2 for the fourth straight month in March, reported Statistics Canada on April 22. That compares with 191.3 the same month a year ago, which was the highest reading since the baseline of 100.0 in January 2020.
The steady reading for pulses compares with the decline in all crop products to 138.1 from 142.8 in March.
The RMPI measures price changes for raw materials purchased for further processing by manufacturers operating in Canada. As a purchasers’ price index, prices include all charges purchasers incur to bring a commodity to the establishment gate. They include transportation charges, net taxes paid, custom duties and tariffs, as well as subsidies, if applicable.
