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Pea Prices Surge Upward
VANCOUVER - Jul 27/12 - SNS -- North American field pea markets finished the week's trading on an unusually strong note, with the gap between spot and new crop markets closing as prices surged higher on the week.
Canada essentially sold out of peas as it became certain a lower than expected rabi or winter pulse harvest on the Indian subcontinent would leave that region with a fundamental shortage of pulses through the spring and summer.
The problem is now being compounded by slow monsoon progress and significant delay in seeding this year's kharif or summer monsoon season crops in India.
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