Pulse weekly: Early start expected for Indian monsoon

Glacier FarmMedia | MarketsFarm — The onset of India’s annual southwest monsoon is expected over the next four-to-five days, which would make for the earliest start of the rainy season since 2009 and sets the stage for good crop production going forward.

The southwest monsoon typically runs from June 1 through September as it advances northward and accounts for about 75 per cent of India’s seasonal rainfall. The early onset this year bodes well for the planting of kharif season crops.

The kharif season crops include rice, corn and cotton. The rabi season crops, which encompass most pulses, are seeded after the monsoon rains are over and rely heavily on that moisture.

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The Indian Meteorological Department is forecasting “above normal” monsoon rains this year. As a result, the Indian government is also forecasting record crop production in 2025/26

“The conditions are also likely to become favourable for further advance of southwest monsoon over some more parts of south Arabian Sea, remaining parts of Maldives and Comorin area (southern tip of India) and some parts of Lakshadweep area, Kerala, Tamil Nadu and some more parts of Bay of Bengal and north-eastern states,” IMD said.

India has been a major destination for Canadian peas this year, accounting for about 40 per cent of all pea exports. However, a tariff exemption on yellow peas in place since December 2023 is set to expire at the end of May.

Old crop green peas in Western Canada are currently trading around C$14.50 to C$17.05 per bushel, while yellow peas are priced around C$9.00 to C$10.25, according to Prairie Ag Hotwire data. New crop green peas are about two to three dollars below the old crop pricing, while yellow peas are about a dollar below the spot market.

Large green lentil bids in Western Canada top out at 50 cents per pound, according to Prairie Ag Hotwire data, having lost about one cent off the high end over the past month. That compares with new crop bids in the 39 to 45 cents per pound area.

Old crop red lentils are priced in the 28.5 to 33 cents per pound area, with new crop bids of 28 to 30 cents per pound.

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