No Surprise in Pea Stocks
PANAMA - Sep 10/17 - SNS -- Statistics Canada's estimate of the quantity of peas carried over from the 2016-17 marketing year were nearly identical to pre-report estimates.
Stocks were expected to total 306,000 metric tons (MT). Statistics Canada pegged them at 301,000 for a potential available supply of 4.12 million MT of peas, down from 5.04 million last season.
Opening season export movement is lagging last year, despite better supply availability, reflecting reduced sales to the Indian subcontinent. However, this should be partly offset by better demand from China and other destinations.
Canada's harvest started the week at 90% complete, compared to 85% last year and the recent average of 84.4%. This means the country has at least 3.7 million MT of peas available, with the result exporters can readily meet bulk and container lot commitments.