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May 16, 2024

Market Updates

2024 Canadian pea stocks hit lowest level in two decades/
AgPulse Analytica Market Update

A recent Statistics Canada report confirms industry suspicions of record low pea stocks. With harvests still a long way off, AgPulse Analytica explores the current impact on markets and what it means for the future.

Dr Tapasya Jain

Contributor

At a glance

  • “Farm stocks have depleted faster than their commercial counterparts and the report specifically highlighted that pea stocks have fallen to 716,000 metric tons (KMT), the lowest level in two decades.”
  • “Alternative pea origins, such as Russia, Argentina and the USA will have a part to play to keep world trade flowing before the new crop comes.”
  • “Demand from major importers remains unfilled although the prevailing high prices seen since India started importing made for a high level of demand destruction, particularly in feed.”

 

Statistics Canada recently released its report on the stocks of principal field crops as of March 31, revealing that pulse stocks have hit multi-year lows, as was generally expected. Understandably, farm stocks have depleted faster than their commercial counterparts and the report specifically highlighted that pea stocks have fallen to 716,000 metric tons (KMT), the lowest level in two decades.

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Tags

AgPulse Analytica / Canadian pea stocks / yellow peas / green peas / dry peas / field peas / India / Russia 2024 harvest / Black Sea pea crop

Disclaimer: The opinions or views expressed in this publication are those of the authors or quoted persons. They do not purport to reflect the opinions or views of the Global Pulse Confederation or its members.

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