New Delhi India
Important Facts of the News
- Indian importers have resumed purchasing green lentils from the United States.
- Buyers are asking exporters to renegotiate prices due to a steep decline in rates.
- A bumper harvest in Canada and the US has led to noticeable price reductions.
- Canada is offering green lentils at about 640 USD per ton, down from 765 USD in August.
- Russia is offering at around 610 USD per ton, down from 785 USD earlier.
- African pigeon pea prices have fallen from above 600 USD to around 550 USD per ton.
- Myanmar’s pigeon pea prices remain near 775 USD per ton.
- Chickpea prices have declined from nearly 700 USD to below 500 USD per ton.
- Yellow pea prices dropped from 415 USD to the 300 to 320 USD per ton range.
- Earlier, India paused US agricultural imports due to concerns over potential tariff retaliation.
US Green Lentil Import Resumes
Shipments of green lentils from the United States have started moving again toward India after a brief halt earlier this year. Indian buyers, however, are seeking fresh price discussions because global lentil rates have dropped sharply since these deals were initially agreed.
According to industry insights, a large harvest in both Canada and the United States this season has contributed to a noticeable decline in prices across a range of pulses. Countries like Australia and Russia are also reporting healthy supplies of peas and other lentil varieties. African regions have recorded a good pigeon pea harvest as well, further shaping the global price trend.
Pause in Imports Linked to Tariff Concerns
Between July and September, Indian traders suspended the import of several US farm commodities, including pulses and beans. The move followed the United States decision in August to impose a 25 percent tariff, citing higher duties applied on its goods entering India. Additionally, from late August, extra duties were placed on crude oil sourced from Russia for the Indian market.
Though trade discussions between the two countries continue, officials in India have clarified that any major bilateral agreement will not be rushed. Meanwhile, market conditions for pulses have changed significantly from last year.
Sharp Decline in Global Pulse Prices
Last year, forward contracts for India were trading close to 850 USD per ton, rising at times to nearly 1,250 USD. This year, similar products are available near 560 USD per ton, reflecting a substantial shift in supply and demand.
Current International Price Snapshot
- Canada: Around 640 USD per ton (down from 765 USD in August).
- Russia: Around 610 USD per ton (down from 785 USD in August).
- Africa-sourced pigeon pea: Around 550 USD per ton (previously above 600 USD).
- Myanmar pigeon pea: Holding near 775 USD per ton due to expectations of higher Indian demand.
- Chickpeas: Down from almost 700 USD to below 500 USD per ton.
- Yellow peas: Down from 415 USD to about 300 to 320 USD per ton.
Overall, the global pulse market is currently shaped by plentiful production and shifting trade dynamics. Indian buyers are closely watching global trends as they continue negotiations on new import terms.