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Lentils Maintain Values
VANCOUVER - Nov 9/07 - SNS -- North American lentil markets maintained their strength during the past week, helped by the latest round of USDA PL-480 food aid tender activity and a weak U.S. dollar.
Limited selling by Canadian growers has combined with record valuations for the Canadian dollar versus the U.S. to sustain asking prices for Canadian origin product. This saw inter-dealer markets finish the week in new record price territory for Laird, Richlea and red lentils.
The USDA paid an average $32.80 per 100 pounds (cwt) delivered Gulf ports for 4,560 metric tons (MT) of lentils for December movement from origin. Some processors were buoyed by the results, lifting asking prices from U.S. $30.50 to $32 cwt during the week.
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