Lower Average Farm Prices for Lentils
PANAMA - Oct 23/16 - SNS -- In its latest monthly review of Canadian lentils Agriculture Canada's market analysis branch in Winnipeg predicts lentil production this year will total 3.263 million MT from 2.363 million hectares, compared to 2.541 million MT from 1.598 million hectares last year.
Agriculture Canada forecasts exports will reach 2.2 million MT in 2016-17, compared to 2.147 million MT last season. Domestic use is forecast at 752,000 MT in the coming marketing year, versus 702,000 last season.
Season ending stocks are expected to finish the 2016-17 marketing year at 400,000 MT, versus 73,000 the previous marketing year.
Agriculture Canada said the average grower bid for all classes of lentils was $965 MT in 2015-16. It thinks the season average bid will range between $530 and $560 MT in 2016-17.
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