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New Crop Pea Discounts Remain Wide
VANCOUVER - Mar 23/07 - SNS -- International field pea markets continue to strengthen in the face of tightening supplies from North American shippers and Australia's short crop.
Most market participants do not expect values to ease until early summer, when new crop peas become available from central and western Europe.
Though seeded area is expected to decline from last year's levels, all of the decrease is expected to translate into reduced feed pea usage rather than a reduced effort to sell product to the Indian subcontinent and other human consumption markets.
With Canadian field pea area now expected to set a new record, the implication for Canadian and U.S. growers is clear. There is unlikely to be any benefit from carrying peas over into the 2007-08 marketing year.
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