Pulse Weekly: Lentil prices poised for drop, depends on India

Glacier FarmMedia | MarketsFarm — The demand for lentils has backed off lately due to high prices, said trader Marcos Mosnaim of Prairie IX in Toronto. He said the direction lentils take will largely depend on India.

Mosnaim speculated that demand for lentils, especially green lentils, will come down after January, but cautioned “anything can happen.”

He said where prices go in the weeks to come depends on what India does.

“If India comes to the market, prices stay high. If India is not in the market, then … demand will be very sluggish,” he explained.

Read Also

Ukrainian grain exports to fall in 2024/25: USDA attaché

Ukrainian grain exports are expected to be down in the 2024/25 marketing year due to smaller crops, tighter carryout stocks and the ongoing challenges of shipping through the Black Sea, according to the United States Department of Agriculture’s Foreign Agricultural Service in Kyiv.

Prairie Ag Hotwire reported Laird and Eston lentils were steady as of Oct. 28. Depending on the size, the Lairds ranged from 39 cents per pound for the number threes to 60 cents for the number ones and twos. The Estons were as low as 33.5 to 49 cents/lb. and the large French green lentils were 43.5 to 47 cents/lb.

Meanwhile, the Richlea lentils shed one cent, with prices ranging from 35 to 55 cents/lb.

Red lentils remained unchanged at 23 to 33.5 cents/lb.

On a monthly basis, most Prairie lentils were up two to five cents/lb. depending on type and size, while the French greens gave up eight cents.