No USDA Surprise For Lentils
PANAMA - Jan 12/24 - SNS -- International lentil markets were not surprised by the USDA's final production estimate for 2023 as output was basically unchanged from its September forecast, inching 1,000 MT upward to 260,000 metric tons (MT).
Last year's harvest was up slightly from the 256,000 MT produced in 2022, while available supplies are sharply higher because of an increase in the estimated size of the carry-over from 6,000 MT at the close of the 2021-22 marketing year to 44,000 last summer.
Available supplies are believed to have increased from 380,600 MT based on imports of 118,600 to 425,000 MT this season, assuming imports of mainly Canadian product reaches 121,000 MT.
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