Pea prices in Ukraine continue to grow

In the current season, Ukraine has increased pea production by 16%. So, as of August 19, 559 thousand tons of peas with a yield of 2.32 t/ha were threshed from 241 thousand hectares or 99% of the area. Recall that in 2018, the pea harvest amounted to 780 thousand tons, in 2019 – 570 thousand tons, and in 2020 it decreased to 479 thousand tons.

Since the beginning of the season, purchase prices for peas in Ukraine have gradually increased following wheat prices, but they are constrained by limited demand from traditional importers.

Demand prices are 2 260-270/ton or 8500-8600 UAH/ton with delivery to the port, which is significantly lower than last year's level, when they reached a record $280-300/ton or 10000-11000 UAH / ton in the port.

Processors buy peas with delivery to the plant at a price of 8500 UAH/ton, which exceeds the price of exporters.

The drought-related decline in legume production in Canada has not yet led to higher prices for peas in Ukraine, as India, which is the main importer of this product, has significantly increased its own production.

According to the Ministry of Agriculture of India, in the 2020/21 season, legume production in the country will increase by 12% compared to the previous season from 23.03 to 25.72 million tons, which significantly exceeds the average of the last 5 years, which almost reaches 22 million tons.