Pulse weekly outlook: Demand nudges lentil prices upward

Rapid rises seen leading to 'pause mode'

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Published: March 14, 2023

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Lentils. (Seb_ra/iStock/Getty Images)

MarketsFarm — There have been some modest upticks in green and red lentil prices recently due to increased demand from India and Turkey, according to Marcos Mosnaim of Export Packers.

“We went so fast up in prices that we are getting into a pause mode,” he said.

“Buyers have to accept the new prices. So whenever you increase the price too fast, you have some pauses,” he added, noting the price will either continue moving higher or it will pull back. “Nobody knows where it can go.”

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Over the last month, prices have climbed higher for most lentils. As of Monday, Laird No. 1s and 2s gained two to three cents per pound at 50-53 cents/lb., according to Prairie Ag Hotwire. However, the Laird ‘s and Laird X3s lost one to two cents over the same time at 41-44 cents/lb.

Crimson lentils pushed upward as well, with No. 1s and 2s tacking on 3.5 cents at 30-35 cents/lb. The No. 3s and X3s bumped up a penny to 26-30 cents/lb.

Eston lentils added one to three cents just in the last week, at 30.5-45 cents/lb. depending on the size.

Richleas have been the exception to the recent increases; instead they gave up three cents at 35-38 cents/lb.

— Glen Hallick reports for MarketsFarm from Winnipeg.

About the author

Glen Hallick

Glen Hallick

Reporter

Glen Hallick grew up in rural Manitoba near Starbuck, where his family farmed. Glen has a degree in political studies from the University of Manitoba and studied creative communications at Red River College. Before joining Glacier FarmMedia, Glen was an award-winning reporter and editor with several community newspapers and group editor for the Interlake Publishing Group. Glen is an avid history buff and enjoys following politics.

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