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Higher Average Prices Forecast
VANCOUVER - Nov 16/07 - SNS -- Agriculture Canada left the forecast size of this year's specialty crop harvest unchanged, but has become increasingly optimistic about price prospects for the coming season, raising its season average price forecast.
"Average prices, over all types, grades and markets, are forecast to increase from 2006-07 for dry peas, lentils, dry beans, mustard seed, canary seed, sunflower seed and buckwheat, but decrease for chickpeas. The main factors to watch are currency exchange rates, ocean shipping costs and crop conditions in Australia, India, Pakistan and Mexico," Agriculture Canada said in its November outlook bulletin.
Crop abandonment is estimated to be lower than normal. The harvest is generally complete. Quality was generally lower than for 2006-07, but higher than normal.
Total supply is expected to decrease by 4% to 5.34 million MT due to lower carry-in stocks, causing exports, domestic use and carry-out stocks to decrease.
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