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Lentil Markets Gain on Production Fears
VANCOUVER - May 24/08 - SNS -- International lentil markets remained firm during the past week, surging in value as traders digested reports from the world's key lentil producing regions at the CICILS conference in Puerto Vallarta, Mexico.
Canada is one of the few regions in the world where red lentil acreage is rising this year, but industry representatives said subsoil moisture reserves in Saskatchewan are not good and timely rains are essential for good crop development.
Such concerns come at a time when Turkey is looking at a reduction in its red lentil harvest from an estimated 507,000 metric tons (MT) last year and 580,000 MT in 2006 to around 400,000 MT this year. Syria's crop has plunged because of the regional drought, causing it to ban exports.
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