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Lentil and pea price hikes pressure plant-based food industry costs in Brazil

Dried Lentil
Dried Common Pea
Dried Chickpea
Brazil
Published Nov 13, 2021

Tridge summary

The increase in costs that affected several sectors of agribusiness did not spare the plant-based products industry. The so-called plant-based products, substitutes for animal proteins, have also been feeling the effects of tighter supply and demand and rising prices for items used as raw materials, such as peas, lentils and chickpeas.

Original content

From January 2020 to October 2021, peas rose from US$ 650 to US$ 950 a ton at the Port of Santos, according to the Brazilian Institute of Beans and Pulses (Ibrafe). The price of lentils went from US$ 685 to US$ 1,400 per ton in the period. The world's largest producer (37%), Canada reached the lowest level of supply in 2021, with a loss of 31%. Canadian exports are around 1.8 million tonnes in the current harvest, compared to 2.3 million last season. Pea is one of the ingredients widely used as raw material for plant-based foods (Photo: Getty images) Pulses, as these legumes are called, are more expensive because foreign supply is leaner. Marcelo Lüders, president of Ibrafe, also highlights that bean production has also been falling in North America. “The offer will be leaner on the international market”, he highlights. In the United States and Canada, there were losses of 17% in area and 19% in productivity in the 2021/2022 harvest, he says. “Prices are still tight, which is a ...
Source: Agroinforme
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