iGrain India - Lentil prices in Canada have remained stable recently, experiencing only minor fluctuations due to a combination of slow trade and adequate supply.
The market has shown no significant changes this week. Specifically, the price for red lentils is stable at 33-34 cents per pound.
Thick green lentils are priced between 61-62 cents per pound for grades 1 and 2, while grade 2 special is slightly lower at 58-60 cents per pound. Small green lentils of grade 1 are priced at 53-55 cents per pound. French green lentils are trading at 45-47 cents per pound.
This stability in the Canadian lentil market contrasts with challenges facing the Australian lentil crop, which has suffered significant damage due to natural disasters.
The Australian government will release a quarterly report on December 3, which is expected to indicate a major reduction in lentil production forecasts.
India, a key importer of lentils from both Canada and Australia, has seen slow imports, partly due to its own domestic market being stable and ongoing sowing activities.
Additionally, India has extended the duty-free import of lentils until March 31, 2025, but it remains to be seen what policy decisions will follow this period. Both Canadian and Australian lentil producers and exporters are highly reliant on the Indian market, so they will be closely monitoring developments there.