Canada gave Russia world leadership in the pea market

Published 2024년 7월 13일

Tridge summary

From January to April 2024, China experienced a slight increase in pea imports by 1.4% to 488.2 thousand/t, but the import value dropped by 13.7% to $1.97 million. Russia emerged as the primary pea supplier to China, accounting for 49.1% of the imports, pushing Canada to the second place. Other significant suppliers included the USA, Australia, and France. In the 2023/24 fiscal year, China became the leading buyer of Russian peas, with India, Spain, Turkey, and Latvia following. Russia's pea exports made it the global leader in the market, surpassing Canada and Turkey. Ukraine's pea harvest is projected to decrease to 360.3 thousand tons in 2024 due to the ongoing conflict, leading to an increase in purchase prices for peas delivered to Black Sea ports.

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

Original content

At the same time, from January to April 2024, China increased its pea imports compared to the same period a year earlier by 1.4% to 488.2 thousand/t, but its value decreased by 13.7% to $1.97 million, writes GrainTrade . According to the Union of Grain Exporters, in 2023/24 the Russian Federation became the main supplier of peas to China with a share of 49.1%, or 1.13 million tons, pushing Canada to second place, whose share in Chinese imports decreased to 44.7%. The next steps were occupied by the USA (3.4%), Australia (1.7%) and France (1.1%). According to Rusagrotrans estimates, in 2023/24 FY China became the main buyer of Russian peas (1.13 million tons), ahead of India (725 thousand tons). Spain (385,000 tons), Turkey (375,000 tons) and Latvia (225,000 tons) were also among the top 5 largest buyers. Last year, the Russian Federation supplied 2.63 million tons of peas to the world market and became the leader in its export, pushing Canada to second place, which exported 2.54 ...

Source: AgroPortal.ua