Guarded Optimism in Peas
PANAMA - Nov 12/18 - SNS -- Field pea markets finished the week with guarded optimism about demand prospects during 2019 because of below average progress seeding this year's rabi season pulse crops in India.
After rabi seeding set a new weekly record at the end of October, India's farmers planted the second lowest area to pulses during the past week. Area sown so far now totals 3.9 million hectares, down from 5.43 million at the same time last year and the recent five year average of 5.3 million hectares sown by November 9.
Planting of all crops is down from this time last year, sinking from 13.82 to 11.07 million hectares. Land in oilseeds dropped from 4.086 to 3.709 million hectares, while coarse cereals sank from 2.265 to 1.414 million hectares. Rice is down from 766,000 to 524,000 hectares, while wheat advanced from 1.265 million to 1.519 million hectares.
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