STAT Communications Ag Market News

Peas Maintain Firm Tone

PANAMA - May 24/24 - SNS -- International field pea markets finished the week's trading on a firmer note despite efforts by India to encourage a record harvest across the coming 2024-25 production cycle.

The government wants to see production of all pulses leap from an estimated 24.96 million metric tons (MT) in 2023-24 to 29.9 million from the coming kharif and rabi season harvests.

Reaching those targets would require well distributed monsoon season rainfall accumulations, possibly above average yields, a significant increase in seeded area, higher minimum support payments (MSP) along with higher open market returns to farmers throughout 2024-25.

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