Green Pea Collapse
PANAMA - Jan 22/21 - SNS -- Tightening available supplies of peas in North America added general support markets since December, though spreads between yellow and green peas have collapsed.
Excellent movement during the fall shipping period end expectations of continued demand from China and other destinations is supporting yellow peas. By contrast, available supplies of green peas are well beyond the prospective needs of the market, with the green peas not longer obtain a premium in grower markets.
Markets are also being supported by the fact farmers have been able to move a substantial portion of all crops they grew in 2020 at good prices. This has left them in a good position from a cash flow perspective, reducing their need to sell peas.
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