Conflicting Hopes and Fears in Peas
PANAMA - Apr 5/19 - SNS -- International field pea markets are paying close attention to growing conditions in India with forecasters thinking this year's monsoon rain fall accumulations could be below normal and some states reporting drought like conditions.
The first crop was deemed as optimistic by many market observers, while some of India's pulse trade believe the crop is chronically over estimated. Some feel the emergence of regional shortages is evidence production is not as high as thought, though it could equally be a problem with domestic distribution.
Private forecasters are also predicting that this year's monsoon will get off to a slow start because of the impact of a probably El Nino weather event. While associated with below normal monsoon rainfall, the El Nino influence on weather patterns is sometimes offset by other regional effects.