Glacier Farm Media|MarketsFarm – Dry peas saw sharp reductions in Statistics Canada’s report on grain stocks as of July 31. Released on Sept. 9, the StatCan report showed on-farm and commercial dry pea stocks at a combined 348,000 tonnes, down from 550,000 the previous July. The current stocks also came in below the five-year average of 398,600 tonnes.
Pulse Canada credited the decline in dry pea stocks to a sharp increase of exports to India in 2023/24.
“We had a policy change in India, when India started to import yellow peas,” said Greg Northey, vice-president of corporate affairs for Pulse Canada in speaking about that country’s government removing the levies that hindered the amount of its imports.
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“We supplied that market heavily at the beginning of the year,” he added.
The Canadian Grain Commission recorded 831,300 tonnes of peas were cleared from licensed facilities during 2023/24 destined to India compared to zero the previous year. India accounted for slightly more than 45 per cent of Canada’s pea exports in 2023/24.
“That basically took the Canadian inventory right down to pretty low levels,” Northey stated.
StatCan listed on-farm stocks of dry peas from July to July at 103,000 tonnes, down from 352,000 and well under the five-year average of 205,000 tonnes. Meanwhile, at 245,000 tonnes there was an uptick in July commercial stocks, compared to the 198,000 a year ago and the average of 193,600.
Northey said the removal of levies by the Indian government at the beginning of January was initially set for only three months. However, that was extended to the end of October.
“There is an expectation of the sales program into India until then will remain strong,” he noted. “At the end of October we will see what happens.
The August principal field crops report from StatCan pegged dry pea production for 2024/25 at 3.01 million tonnes versus 2.61 million in 2023/24. Canada’s dry pea output has remained below four million tonnes since the 4.59 million tonnes that were harvested in 2020, with the five-year average at 3.42 million. The federal agency is set to publish an update its report on Sept. 16.
Pea prices experienced a recent hike in their prices, according to Prairie Ag Hotwire. During the week ended Sept. 9, yellow peas gained 36 cents at C$8.75 to C$10 per bushel delivered, while green peas jumped 75 cents at C$12.98 to C$14/bu. delivered.
However, feed prices were steady to lower with those in Manitoba holding at C$9.50 to C$10/bu. picked up. Prairie Ag Hotwire didn’t list a delivered price.
In Alberta, feed peas gave up 27 cents at C$11.16 to C11.43 bu. delivered, while those in Saskatchewan dropped C$2.05/bu. at C$10.40 to C$10.70 delivered.
