Strong export demand, a tight carryover and a smaller than expected pea crop all point to higher prices in the coming months.
Earlier this week, Statistics Canada reduced its 2020 pea production estimate by 636,000 metric tonnes to 4.3 million.
China is by far the largest buyer of Canadian yellow peas. Flooding damage in China has hurt the domestic crop and should result in continued demand for Canadian product in the coming year.
This may also encourage Canadian growers to increase pea area in 2021 with new domestic processing slated to come on line next summer and fall.
(CJWW)
