Market Disbelieves Lentil Area Numbers
PANAMA - May 9/20 - SNS -- Lentil markets ended the week's trading on a firm note, helped by indications plantings in Canada could decline rather than rise sharply, contrary to the expectations of most market participants.
Heading into the report, a survey of companies by Purely Canada Foods discovered the average industry estimate for lentil plantings in Canada was 4.4 million acres, with estimates ranging between 4.0 and 4.7 million. STATpub's April forecast was 3.858 million.
Statistics Canada said farmers intend to plant 3.709 million acres of all classes of lentils, down from 3.78 million last year. Seeding intentions are not broken down by class, but it would not be surprising for red lentils to account for 68% of total plantings, compared to 60% last year.
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