Pea prices in Ukraine rose after India canceled the import duty

The prices of peas in Ukraine have risen significantly over the last month thanks to India's cancellation of the customs duty on its import, analysts of the PUSK cooperative, established under the All-Ukrainian Agrarian Council, reported.

If at the beginning of February, the price of yellow peas was UAH 10,000/t, then as of March 25, they reached UAH 13,500/t. The rise in the dollar had a certain impact on prices, but the decisive factor was the abolition of the duty on the import of peas by India until April 30, 2024.

Experts believe that pea prices will rise for several more weeks. But if India abandons duty-free import of peas, the prices will turn downward already in the second half of April.

Analysts also expect an increase in the area of peas sown in 2024, although they note that it is still difficult to predict the amount of areas under spring crops in Ukraine, since last year the land that is planned to be sown this year, for example, in the Kharkiv region, was not used.