AgPulse Analytica Market Update/
Indian pea import campaign to reduce global carryout stocks?

In a December article, AgPulse Analytica presented the case for India to open its doors to pea imports to help fill the pulses supply gap. Coincidentally, the government took action that very week and India commenced sourcing peas from multiple sources with effect from March 31, 2024. Later, the Indian authorities decided to extend the deadline to April 30, 2024. This effectively means that pea arrivals in India will continue until June with a few cargoes even landing in July.

Swift Export Pace

Most of the pea shipments were carried out in December and January, with February shipments being considered risky. During those two months, nearly 1.4 MMT of peas were shipped from the largest exporters (Canada, Russia, USA, UAE, Turkey, EU & Australia) - the highest total for these two months.