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Pulses: Feed pea benchmarks declining

CNS Canada — Following are a few highlights in the Canadian and world pulse markets on Monday morning, Oct. 26.

• Shortages and resulting high local prices in India remain at the forefront of the global pulse market. The government recently imposed restrictions on how many tonnes companies can store in an effort to curb hoarding. A number of state governments have also taken the initiative of selling pulses at subsidized rates.

• Green pea prices in the C$7.50-$8.50 per bushel range are being reported, while prices anywhere from C$7.50 to C$9.50 per bushel can be found for yellow peas. Red lentil bids as high as 42 cents per pound are being reported in some locations, while No. 2 large green lentils are hitting prices as high as 48 cents. Smaller lentils are also hitting the 42-cent mark in some cases.

• The feed pea benchmark, which is compiled by the Alberta and Saskatchewan Pulse Growers Associations, declined in all three Prairie provinces during the two-week period ended Oct. 24. The losses were most pronounced in central Saskatchewan, where the benchmark fell to C$280.13 per tonne, from $307.71 on Oct. 10. The Manitoba benchmark lost about $8, to trade at C$252.06 per tonne. The Alberta feed pea benchmark was quoted at $295.31, down $2.

• The faba bean benchmarks were also lower during the week, as competing feed ingredients moved lower. However, demand for feed-grade supplies of both peas and faba beans continues to outweigh the supply, according to the report from the Pulse Growers groups.

 

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