A market analyst believes field pea prices in Saskatchewan bottomed out last week and will see a slow recovery over the next few months.
India imposed a 50 percent tariff on imported peas last week to support the domestic market, causing prices in Saskatchewan to drop more than 30 dollars a ton.
Alyssa Mistelbacher, a market analyst with FarmLink Marketing Solutions believes the pea market will slowly recover from the price drop over the coming months as demand in China picks up.
“I expect in the new year we’ll see China come back to the market and reload supplies, and that should create some fresh demand and some upside to values, it’s just going to take soem time to work through,” Mistelbacher said.
China is the largest market for Canadian peas, with India a close second.