September 14, 2023
Gaurav Jain zooms in on the global factors contributing to dampened lentil supplies, looking at key producing and consuming markets and how they will influence trade in the coming months.
In the world of agriculture, rapid shifts in supply and demand can send shockwaves through markets, and the lentil industry is no exception. Over the past few months, we've witnessed a remarkable transformation from ample lentil supplies to a situation of unprecedented tightness. Several key factors have converged to reshape the lentil landscape, with potential price hikes looming on the horizon.
According to the latest data from StatsCan, the 2022/23 marketing year ended with a total lentil stock of 147 KMT (119 KMT commercial and 28 KMT on-farm). This is against a backdrop of a lentil harvest that stood at 1.537 MMT. When we combine these figures, it's evident that total lentil supplies have hit a 14-year low, resting at 1.684 MMT.
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