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Peas News - Canada Slashes Down Pea Production Estimate By 10.65%25 To 22.58 Lakh MT from Nov 21 Estimates
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Canada Slashes Down Pea Production Estimate By 10.65% To 22.58 Lakh MT from Nov-21 Estimates

Agriculture Canada has revised down Field Pea production estimate by 10.65% to 22.58  lakh MT for 2021-22 in Dec against Nov-2021It was 25.27 lakh MT in Nov-2021. If we compare last year's production, it is down by 50.85%. Pea production in Canada in  MY 2020-21 was45.94 lakh MT. This means the availability of pea in 2022 would be 50 % low and it would keep the price up at the current level. Prices of Peas would continue to rule near $580-600 throughout 2022. As import is not taking place for India due to restrictions, the price may be stable at the current level. As production has decreased, export volume from Canada too would decline by 8% to 21 lakh MT from Nov estimate and 41.34% from the actual of last year. If the Indian govt. allows import(unlikely), prices of other pulses, especially Chana may decrease further. Consumers in India have already moved to Chana as availability in the domestic market is higher and it is cheaper. New crop in India would hit markets by Feb-end March. As Chana is trading weak, sentiment for the pea market too is weak.