Pea Market Confidence Must Recover
VANCOUVER - Dec 6/08 - SNS -- Field pea markets were not surprised by the latest production estimates from Statistics Canada, though confirmation of a record harvest had a negative impact on prices.
There is an obvious risk that Canada's carryover will approach one million tons this season. Preventing it forces markets to reconcile two problems.
Firstly, how to grow demand without sacrificing price. Secondly, how to grow demand where there is reduced confidence in the buyer's or seller's ability to perform their duties.
Since the summer, this crisis of confidence in the industry has been clearly described by traders in numerous articles they have written for grower publications, broadcast email messages, and in demands by some to national and international trade organizations to "do something".
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