India: Rising food inflation could boost pea demand

Published 2021년 5월 28일

Tridge summary

The global food price index, which is at its highest in over a decade, could drive demand for peas due to their affordability compared to other proteins. This is particularly true in the feed market, with China's swine feed production up by 60% year-over-year, making peas a cost-effective feed ingredient. However, India's efforts to support desi chickpeas by restricting pea imports have led to a significant price increase, impacting consumers. Despite these challenges, Canadian pea production is expected to reach 12.6 million tonnes, with strong demand from China and the Black Sea region. However, rising freight costs are adding to the challenges in the pea market.

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

Original content

Pea demand could benefit from rising food price inflation around the world, says a pulse industry analyst. The food price index compiled by the United Nations’ Food and Agriculture Organization is 31 percent higher than it was this time last year, led by rising vegetable oil and meat prices. That could push some demand to pulses, especially peas, which are the cheapest pulse, said Marlene Boersch, managing partner of Mercantile Consulting Venture. “This is my premise — the demand side is actually going to be supported by this, which runs contrary to some of the major commodities,” she told delegates attending the Global Pulse Confederation’s Pulses 2.1 virtual conference. She also sees continued strong feed use for the commodity. Swine feed production in China was up 60 percent from year-ago levels in the first quarter of 2021. Peas remain a price competitive feed ingredient in that market and around the world because of tightening corn and soybean meal supplies. It all adds up to ...

Source: The Western Producer