Pulse weekly outlook: Lentil prices increase

MarketsFarm — Lentil prices have been increasing over the last week, making gains of one to five cents per pound depending on the type, according to Prairie Ag Hotwire.

“There’s a huge demand on everything right now. The lentil market is strong just like the yellow peas,” Allan Johnston, president of Johnston Grains at Welwyn, Sask., said.

“The whole world is buying grain and [the market is] just on fire.”

Prices for Laird lentils have jumped two to three cents/lb. over the last month, ranging from 19 to 38 cents/lb., according to Prairie Ag Hotwire.

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Richleas have seen increases of a half cent to a nickel, at 19-31 cents/lb.

Crimsons have gained one to five cents, at 19-30 cents/lb.

Estons, meanwhile have been rather steady of late, except for No. 1’s, which have bumped up a nickel at 18-33 cents/lb.

February’s supply and demand estimates from Agriculture and Agri-Food Canada were also a factor in lentil prices, as they projected lower ending stocks for the crop, going from 209,000 tonnes in 2019-20 down to 150,000 tonnes in 2020-21 and again in 2021-22.

That estimate would bring lentils’ stocks-to-use ratio from seven per cent to five per cent for the current marketing year, as well as the next.

— Glen Hallick reports for MarketsFarm from Winnipeg.

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