Lentils Firm Despite Uneven Demand
PANAMA - Mar 26/21 - SNS -- Global lentil markets finished the week on a firmer note against growing worries about prospective growing conditions in North America, but buyers do not appear to be worried about future supplies.
Overall demand for green lentils also remains muted because importers in some destinations continue to have excess inventories. Though the demand bubble created by panic buying by consumers during the second quarter of 2020 was not expected to be repeated after the 2020 harvest, some market participants thought it represented a new base demand level.
Those stock accumulations have now become a factor influencing demand, likely through the balance of the 2020-21 marketing year. With new crop asking prices discounted to spot for both red and green lentils, buyers with the ability to wait for the coming harvest are only entering spot markets as needed.
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