Canada: Producers await India’s decision on pea import duty

Published 2024년 9월 10일

Tridge summary

The yellow pea market is facing significant changes due to policy decisions in India and competition from Russia. If India extends its duty exemption on pea imports past October 2024, it will boost demand, but prices may not increase due to ample supply. Conversely, if the exemption is not extended, prices could drop as Canadian exporters seek new markets. The U.S. has become a net importer of peas, primarily from Canada, due to demand from the pet food industry. However, labor unrest and policy uncertainty in India and China, along with competition from Russia, are causing caution in the market. Canada is also investigating anti-dumping behaviors in Chinese pea protein imports.

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

Original content

The yellow pea market hinges on a looming policy decision in India, says an industry official. If India extends its exemption on pea import duties past the current Oct. 31, 2024, expiry date, it will spark another round of demand from that country, Rav Kapoor, chief executive officer of ETG Commodities Inc., said during a recent Global Pulse Confederation (GPC) webinar. But he doesn’t think that will result in rising prices due to ample supplies of the commodity. If India does not extend the duty exemption, prices will likely fall as Canadian exporters scramble to find new markets for a big crop. Statistics Canada is forecasting 3.01 million tonnes of production, a 15 per cent increase over last year, which he believes is bang on. The breakdown is 15 to 20 per cent green peas and the remainder yellows. Bulk movement of the crop has been almost non-existent early in the 2024-25 crop year, which is unusual. Kapoor blames it on labour unrest in the rail sector and policy uncertainty ...

Source: UkrAgroConsult