Pulses

Dried lentils: speculation shapes the market

May 3, 2023 at 4:16 PM , Der AUDITOR
Play report as audio

OTTAWA. According to Chelmer Foods, various speculations and rumours are currently doing the rounds in the lentil market. This concerns especially the demand situation in India, but also the price development in Canada and the crop prospects in Europe.

Massive demand from India?

As the experts from Chelmer Foods report, the lentil market is currently characterised by speculation, as the sowing season is still to come. The extent to which farmers release their stocks for sale or hold them back for the time being has a decisive impact on the price development. A particularly persistent rumour is that the Indian pigeon pea harvest has been very small this year. Since these pulses can easily be replaced by lentils, the buying interest of Indian importers is said to be very high. In contrast, with relatively little produce still available, Chelmer Foods states that the few offers for the new crop are at a "historically high level".

Prices remain high

In Europe, too, poor crops are expected due to the dry weather conditions, which should increase the interest in Canadian goods here as well. Logistics remain a problem, especially for non-EU countries like the UK. However, higher demand from India and Europe should ensure that prices remain high in the coming months. From Canada, Rayglen Commodities experts report that new crop red lentil prices have seen a slight upswing and are around CAD 0.35/lb, while new crop large green lentils are trading at CAD 0.54-0.56/lb. Weather conditions as well as the demand situation will largely determine pricing in the coming months.

View more
price charts

View related articles

Go to the News Overview
Fruit and Vegetables
May 24, 2023
OTTAWA/NEW DELHI. If the current production estimates for 2023 come true, the global lentil crop would record the second highest yield in history. A tender from India has caused surprise in the market.
Pulses
May 22, 2023
NEW DELHI/OTTAWA. Traders in both the Indian and Canadian markets report increased buying interest. One problem, however, is the scarce availability. Meanwhile, sowing has started in Canada.
Pulses
May 15, 2023
NEW DELHI/OTTAWA. In Canada, chickpea stocks are currently the lowest since 2018 - some relief could come from an increase in acreage. India is also experiencing some shortages.
Pulses
May 8, 2023
NEW DELHI/BRUSSELS. Indian market players are delighted with China's great buying interest, which includes chickpeas as well as other pulses. Meanwhile, EU imports have increased only slightly in terms of volume, while the development of the import value is remarkable.