Australia: Bulk lentils brighten market

Published 2023년 2월 23일

Tridge summary

A recent surge in lentil exports from southern Australia has led to a rise in prices due to strong offshore demand. However, the demand for faba beans is currently low, and chickpea business is shifting to containers due to economic challenges in major markets. The planting of mungbeans in central Queensland is expected to be limited as farmers are opting for other crops. Substantial demand for chickpeas persists, despite inflation, and buyers are seeking alternative, cheaper sources. In contrast, China's demand for mungbeans has resulted in a price increase of around $50/t since December. The planting of winter crops in Queensland and northern New South Wales is expected to impact mungbean planting.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

A solid bulk export program for lentils has lifted prices for southern Australia’s major pulse in the past month as offshore demand for faba beans languishes. Chickpea business is swapping from bulk to containers amid ongoing economic difficulties for Australia’s major markets, and mungbeans are finding it hard to get a look-in as a late summer-crop option, despite buoyant demand from China. All prices quoted are in Australian dollars unless stated otherwise. A big and good-quality sorghum crop is now being harvested in Queensland and northern New South Wales and, on top of a big wheat program, has pushed chickpeas out of bulk shipping schedules. The upshot has been a backing off in demand for Qld chickpeas, which are now trading in small volume into container packers at $400-$425/t for downgraded CHKPM product, and $550/t for CHKP1. “Pakistan and Bangladesh, the two major buyers of chickpeas, are still struggling to secure currency to pay for consignments, so there is no new ...

Source: UkrAgroConsult