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Markets Continue to Reflect New Paradigm
VANCOUVER - Jul 20/07 - SNS -- International specialty crop markets have undergone a significant change in the past year because of the ongoing impact of the rapidly expanding bio-fuels sector on prices for all field crops.
Canadian lentils, chickpeas, canaryseed and mustard are trading above their long-term averages; while field peas, desi chickpeas and Canadian origin red lentils set new record high trading levels on export markets this season.
This had a clear impact on the amount of land going into specialty crops in western Canada this year -- helping prevent production from falling too far below the prospective needs of the market in 2007-08. Even so, the outlook for speciality crops other than canaryseed is for supplies to tighten further by next summer.
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