Canada lost its position as the leader in the supply of peas to China in 2023/24 MY

In 2023, compared to 2022, China increased its pea imports by 64.2% to 2.656 million tons in physical terms and by 22.22% to $1.046 billion in monetary terms. From January to April 2024, he increased the import of peas compared to the same period in 2023 by 1.4% to 488.2 thousand tons, but its value decreased by 13.7% to $1.97 million.

According to the Union of Grain Exporters, in 2023/24 the Russian Federation became the main supplier of peas to China with a share of 49.1% or 1.13 million tons, pushing Canada to second place, whose share in Chinese imports decreased to 44.7%. The next steps were taken by the USA (3.4%), Australia (1.7%) and France (1.1%).

According to Rusagrotrans estimates, in 2023/24 FY China became the main buyer of Russian peas (1.13 million tons), ahead of India (725 thousand tons). Spain (385,000 tons), Turkey (375,000 tons) and Latvia (225,000 tons) are also among the TOP-5 largest buyers.

In 2023, the Russian Federation supplied 2.63 million tons of peas to the world market and became the leader in its export, pushing Canada, which exported 2.54 million tons, to second place. The third place is occupied by Turkey, which exported 340 thousand tons of peas.

According to the forecast of the Ministry of Agricultural Policy, Ukraine will harvest 360,300 tons of peas in 2024 compared to 384,000 tons in 2023 and 566,300 tons in pre-war 2021.

Purchase prices for peas with delivery to Black Sea ports rose to UAH 12,700-13,300/t due to stable demand from India.