India government released its Second Advance Production Estimates this week for a number of crops. Chana production, equivalent to desi chickpea type, whose harvest has just begun and will be in full swing last half March, was pegged at 11.6 MMT versus 11.1 MMT last year if believe the government, and 9.5-10.0 MMT if believe the trade. A number of industry participants believe this year’s chana crop is closer to 9.5-10.0 MMT. Difference would have significant market implications that apply to all classes of chickpeas, lentils and possibly field peas. It’s must have knowledge and implications if a Canadian pulse grower. Shoot me an email and I can shed insight.
New crop Yellow Pea Price on the Rise: Using W 1/2 of Saskatchewan as a benchmark, the price journey started with postings equivalent to the high $7’s, then $8/bu and so on. The analysis in demand bull conditions can be kept relatively simple. China should buy as many peas at $8/bu as farmers will sell and grain shippers will ship. Move calendar and shipping slots forward, raise price and on it slowly goes until import arbitrage math into China doesn’t work.
If you would like more detail on this, please send me an email