Tridge summary
The article highlights a surge in domestic pulse prices in the UK, largely due to significant increases in grain prices, with wheat values reaching over £210/tonne ex-farm. This rise has impacted mid-range protein crops such as pulses, though not as dramatically. The surge in Australian bean crops, estimated to be between 600,000 – 700,000 tonnes, has diminished export opportunities for UK pulses, effectively halting human consumption quality exports until crop 2021. Despite this, the market remains quiet with little new crop interest from farmers. Feed bean prices have marginally increased, making them more appealing for feed compounders, although growers are hesitant to sell. The article also covers the pricing for various pulses, including marrowfat and green/blue peas, and the impact of the pandemic on market volumes.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Domestic pulse values have risen on the back of “astonishing” recent grain price increases, notes the Processors and Growers Research Organisation (PGRO) and Pulses UK market report. But reduced export opportunities have reduced the pulse premium. The rise of wheat values to levels over £210/tonne ex-farm in recent weeks has pulled up the price of mid-range protein crops such as pulses, although pulses lag the speed of the cereal increase. At the same time, the already large Australian bean crop harvest has been further increased. Initial estimates were for a 450,000 tonne crop, compared to an average 300,000 – 330,000 tonnes. But a final figure of 600,000 – 700,000 tonnes now seems likely. This scale of export market availability will reduce the opportunity for UK human consumption quality exports – the UK export trade is effectively over until crop 2021, says the PGRO. The winter bean sowings in England for harvest 2021 appear significantly higher than for the previous year, ...
Source: AgriTrade
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