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Red Lentil Growers See Record Bids
VANCOUVER - Aug 24/07 - SNS -- A larger than anticipated lentil production forecast for Canada had no impact on markets, which doubt enough will be grown to satisfy all markets in 2007-08.
Red lentil markets are already behaving as if there is a fundamental shortage around the world, with grower bids in western Canada reaching a record for the month of August of CDN $23.50 or U.S. $22.35 per 100 pounds (cwt) for farmers dressed product delivered processing plants.
Export movement to the Indian subcontinent is expected to remain at high levels throughout the fall shipping period, making it difficult for exporters to accommodate the needs of resellers in Turkey and direct importers in the Middle East later in the year.
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