Canada: China buys fewer peas

Published Oct 18, 2024

Tridge summary

Canada's top pea market, China, has seen a 22% decrease in pea imports in the first half of this year, according to the U.S. Department of Agriculture’s Foreign Agricultural Service (FAS), with purchases down to 657,000 tonnes, due to factors such as excessive stockpiles, fluctuating exchange rates, increased sea transportation costs, and trade policy uncertainties. The report also highlights a 90% increase in pulse imports by India, which is cutting into available supplies for other markets. The U.S. and Canada have imposed significant duties on Chinese pea protein imports, limiting exports and reducing the need for pea imports as feedstock. Despite these challenges, the Chinese market is showing growth in pea-based dairy alternatives due to lactose intolerance, with peas also finding popularity in pet food and as a substitute in hog feed, despite a recent market downturn in plant-based alternatives.

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

Original content

Pea imports are way down so far this year in one of Canada’s top markets. China bought 657,000 tonnes of the crop during the first half of the calendar year, which was 22 per cent below the same time a year ago, according to a new report by the U.S. Department of Agriculture’s Foreign Agricultural Service (FAS). “Industry contacts explained the reasons for this decline as excessive stockpiles (led by a massive increase in imports in 2023), exchange rate fluctuations, increase in sea transportation costs and trade policy uncertainties,” stated the report. China imported 2.6 million tonnes of the pulse in 2023, a 64 per cent increase over 2022 levels. Many of those peas are still sitting in storage. Canada supplied 60 per cent of those peas, followed by Russia’s 34 per cent. Australia and the United States accounted for most of the remainder. India was the other main factor mentioned in the report. Its pulse imports are up 90 per cent year-on-year, which is restricting available ...

Source: UkrAgroConsult