STAT Communications Ag Market News

Bullish Tone in Most Pulses

PANAMA - Apr 24/20 - SNS -- Pulses have been unexpected beneficiaries of the COVID-19 coronavirus pandemic. Initial worries about the impact the virus could have on trade flows have been replaced by optimism that base demand for pulses could grow faster than expected.

As countries imposed restrictions on the movement of people to try to control the spread of the virus, consumers rushed to stock up on non perishable foods and other items. The resulting panic buying and hoarding saw some processors reporting up to a 40% jump in sales volumes over last year as canners and packagers restocked grocery shelves.

Meeting improved demand has not been trouble free. Exporters report occasional issues with the availability of ocean freight because world trade in non-food products is down sharply. Some regions also do not have enough containers to meet demand because some vessel sailings have been cancelled because they are not full. Simply put, when imports of non food items are down, there is less space for exports.

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