In February, pulses continued to look at India in terms of both the production of the Rabi / winter crop, but also their import policies.
It looks like it could be a big crop but all indications are that the Indian government will not stop their meddling in the prices of pulses.
In North America, it’s hard to ignored the large amount of ending stocks for pulses, and as such, prices for lentils, chickpeas, and peas have reflected that.
For our GrainCents readers of pulses, we also dug deeper into:
• Realistic expectations for India’s trade on chickpeas, peas, and lentils;
• As it relates to chickpeas prices, peas markets, and lentils trade activity, a relatively uneventful trip to India for the Canadian Prime Minister;
• Why hummus prices are higher but chickpeas prices aren’t;
• The large production of peas in the Black Sea; and
• 2018/19 acreage, production, and trade forecasts for the Canadian lentils, Canadian peas, and Canadian chickpeas.
Specifically, as it relates to the prices of pulses, we saw chickpeas prices fall a bit thanks to the expectations of a record crop in India.
We also saw lentils prices fall as the market wasn’t willing to pay up for product that has geopolitical risk – namely higher Indian imports – tied to it.
Finally, yellow peas did see a bit of a bump (but still not near harvest or October prices) while green prices traded sideways to lower.
Moving into the month of March, Indian markets and North American acreage will continue to impact the pulses market. Be sure to sign up for for free 3-week trial at GrainCents as this month could be the most impactful for how and when you price your peas, chickpeas, or lentils for the rest of 2017/18 old crop supply, as well as a significant portion of your 2018/19 supply.