Legume Prices Are Declining

According to Russian Pulses Analytics, export prices for legumes — peas, chickpeas, and lentils — predominantly declined from February 2024 to June 2025, although there were local rebounds. This was reported by the company's director Sergey Pluzhnikov at the V Baltic Grain Assembly "White Nights — 2025". China, a major pea buyer, approaches pricing very pragmatically, despite prohibitive duties on bean supplies from Canada, he explained. It was expected that India would drive high legume prices. However, first, Russia had been actively shipping peas there in the last three seasons, and second, Australia had a record red chickpea harvest. "What incentive would Indian buyers have to overpay for peas when, according to news reports, they have two major producers, one for peas and another for chickpeas, which are essentially closed in the Indian market?" the expert reflects. This year, he believes, there is also no reason to expect price increases in the legume market. Global pea ...