STAT Communications Ag Market News

Ag Canada Sees Record Pea Area

WINNIPEG - Jan 26/16 - SNS -- In its latest monthly review of Canadian field peas Agriculture Canada's market analysis branch in Winnipeg released its first forecast for the 2016-17 marketing year. It is important to recall that Agriculture Canada forecasts are not based on objective surveys should be considered unofficial.

It predicts pea production this year will total 4.1 million MT from 1.7 million hectares, compared to 3.201 million MT from 1.489 million hectares last year.

Agriculture Canada forecasts exports will reach 3.1 million MT in 2016-17, compared to an estimated 2.75 million MT this season. Domestic use is forecast at 655,000 MT in the coming marketing year, versus 635,000 this season.

Season ending stocks are forecast to finish the 2015-16 marketing year at 275,000 MT, versus 429,000 last season. Agriculture Canada thinks the coming marketing year could finish with 650,000 MT of peas on hand.

Agriculture Canada expects season average grower bids for all classes of peas to range between $325 and $355 MT in 2015-16 and between $300 and $330 MT next season.

Agriculture Canada noted, "The average price is expected to rise from 2014-15, due to record yellow pea prices and lower but still strong export demand. Yellow dry peas prices are expected to maintain a premium of $70 MT over green dry peas for the crop year, compared to the $30 MT premium green peas had over yellow peas last year."

Only active subscribers can read all of this article.

If you are a subscriber, please log into the website.

If you are not a subscriber, click here to subscribe to this edition of the STAT website and to learn more about becoming a subscriber.