Slow demand and tax schedule set pigeon pea prices to nosedive further
Dried Pigeon Pea
Tanzania
Caio Alves
Published Nov 10, 2020
The recent Indian crop failure of pigeon peas and high price rates in the Caribbean and South America markets, which are further oriented to canned goods had set good prospects to the African sources. However, the general macro led downturn variables and HORECA restrictions at buyer markets had already driven prices to plumment 25% average in the last month. Being a volatile product with concentrated crops, a swift rebound on the prices may be deemed.
The new season in Tanzania that started early September indicated that in Arusha, the price was 1,000/- kg, and in Lindi 800/- per kg. However, a week later, the prices plummeted over $200/mt.
This, according to Tanzania Pulses Network (TPN), was after India had issued a license to processors only this season despite wanting to import 400,000 metric tonnes in six months to October.
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