Analyst explains sharp decline in Russia's pea exports

Published 2024년 11월 12일

Tridge summary

Russian pea exports have seen a significant decrease this year, with a nearly fivefold reduction, according to Sergey Pluzhnikov, the head of Russian Pulses Analytics. The cause of this decline is a combination of unfavorable weather conditions and the effects of over-exporting last year, which depleted the country's legume reserves. The decrease in demand from major buyers like India and China, who have built up large stocks of Russian peas, has also contributed to the drop. Despite these challenges, Pluzhnikov remains optimistic and believes that the current situation is not catastrophic. He draws attention to the strategic differences between Russia and Canada in pea exporting, with Russia focusing more on domestic consumption. He also highlights potential challenges for Canadian exports, such as the need to shift to market prices and the impact of a port workers' strike.

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Original content

Deliveries of Russian peas abroad this year have decreased not only due to the unfavorable agroclimatic situation, but also due to the overly active export of this legume last year. This was reported by the head of the analytical agency Russian Pulses Analytics Sergey Pluzhnikov, reports pole.rf. This is how he explained the reduction in crop exports this year by almost five times. He recalled that a year earlier the country "sold out" huge reserves of legumes due to the excitement surrounding the news of the opening of the Indian market for its deliveries. Today, this country and another large buyer have formed stockpiles and are in no hurry to purchase additional volumes. According to reports from market participants from India and China, which the analyst also cited, the first of the countries had about a million tons of the crop in its ports at the beginning of autumn this year, and China was selling off a stock of 400 thousand. Nevertheless, Pluzhnikov does not believe that a ...

Source: Rosng