MarketsFarm — Prices for green and red lentils are very likely to remain relatively steady, according to Marlene Boersch of Mercantile Consulting Venture Inc. in Winnipeg.
“Inventories are relatively low and there are not a lot of people to go to for green lentils in Canada,” she said. “From a buyer’s point of view, they’re just trying to make sure they have booked enough to get to the new crop.”
With sharp price increases in the major commodities, she said pulse prices need to rise as well in hope of having the planned or anticipated acres planted this spring.
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One thing prices for lentils and other pulses won’t do is fall back sharply, she added.
“You have to stay within reach of the other commodities and be somewhat competitive,” Boersch added, noting the situation is the same with red lentils.
As of Monday, Laird lentils ranged from 35 to 60 cents/lb., depending on the size, with prices remaining steady to gaining 1.5 cents over the last week, according to Prairie Ag Hotwire.
Prices for Estons, also depending on size, were 31.5 to 49.5 cents/lb., pretty much holding during the last week. Richleas were in a similar situation, with prices as low as 33 cents to high as 54.5 cents/lb. Crimsons as well remained in place at 28-40 cents/lb.
Agriculture and Agri-food Canada on Friday released its March supply and demand estimates, showing no changes to lentils from the previous month. Production was maintained at 2.5 million tonnes, with exports expected to be 2.1 million tonnes, domestic usage at 425,000 and ending stocks to come in at 125,000 tonnes.
Statistics Canada releases its first acreage estimates at the end of April, with stocks data to follow in early May.
— Glen Hallick reports for MarketsFarm from Winnipeg.
