Canada takes reins after poor Aussie lentil crop

Published 2024년 10월 1일

Tridge summary

Canada is regaining its dominance in the global red lentil market, as Australia's production is expected to drop significantly due to drought, with estimates now at one million tonnes, down from 1.57 million tonnes last year. This situation, coupled with low demand and good crops in Canada and Russia, has kept prices low. Meanwhile, desi chickpeas in Australia are expected to yield well, potentially reaching two million tonnes if there's more rain, which could help fill the gap in India. However, logistical challenges are expected to affect export of these chickpeas. The future of India's import tariff exemption on desi chickpeas past March 2025 hinges on its own crop yield and the possibility of increased imports from Australia.

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

Original content

Canada is back in the driver’s seat in the red lentil market, according to pulse industry executives. It has managed to wrestle the steering wheel back from Australia after spending two years in the back seat. “Australia was your price-maker and Canada your price-taker,” Mostyn Gregg, vice-president of grains and pulses with Olam, said during a recent Global Pulse Confederation (GPC) webinar. However, drought has returned to the country, which is likely to result in a disappointing crop of about one million tonnes, down from 1.57 million tonnes last year and 1.69 million tonnes the year before that. There was plenty of optimism early in the growing season, with analysts forecasting as much as two million tonnes of production. The Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) was still calling for 1.7 million tonnes in its September crop report, but that number now appears to be wildly optimistic. Gregg said it is reminiscent of Canada’s dismal 2021 ...

Source: UkrAgroConsult