Suppliers don’t want to stock any commodities due to sudden price decreases

The price decreases started this week, and many companies postponed their purchasing decisions. Especially in red lentils, Canadian companies are willing to sell lentils, but there is no demand in the market. This week, Canadian-origin red lentils are offered at USD 820 CIF Mersin, which is USD 50 less than the previous week. Most companies believe that prices decrease will continue for upcoming weeks too.
Note: Canada expects an increase in all crops in 2022 compared to 2021. Peas production is expected to increase by 68% to 3.8 million MT, and Red lentil production is expected to increase by 56% to 2.5 million MT.