Limited Lentil Ending Stocks Forecast
WINNIPEG - Nov 23/15 - SNS -- In its latest monthly review of Canadian lentils Agriculture Canada's market analysis branch in Winnipeg updated forecasts for the 2015-16 marketing year.
It reports lentil production this year will total 2.162 million MT from 3.87 million acres, compared to 1.987 million MT from 3.12 million acres the previous marketing year.
Agriculture Canada forecasts exports will reach 2.2 million MT in 2015-16, compared to 2.181 million MT last season. Domestic use is forecast at 237,000 MT in the coming marketing year, versus 240,000 last season.
Season ending stocks are forecast to finish the 2015-16 marketing year at 100,000 MT, versus 365,000 last season and 786,000 MT the previous season.
Agriculture Canada estimates grower bids averaged $585 MT for all classes of lentils last season and predicts they will range between $780 and $810 MT in 2015-16 for all grades.
Looking at grower bids by class, Agriculture Canada said it appears green lentils will maintain a CDN $175 MT premium over red lentil prices, compared to a $135 premium in 2014-15.
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