This week too, Peas market maintained firm sentiments as market moved up by 2%, on an average due to good buying support from market players taking cue high demand and the spill-over effect of Pulses specially Chana.

Moreover, more import volumes specially from Canada are unlikely due to lower available stocks is also likely to support the prices ahead as new crop will be available from there in August while seeding is reportedly good amidst conducive weather and replenish soil moisture.

Meanwhile, seeding is also being observed in Russia and would complete in starting June. Around 22 lakh hectare area is expected to be sown with expected production of 45 lakh tonnes which is 7% up from 2023. However, weather conditions are not conducive there and crop size may reduce to 40-42 lakh tonnes this year.

Yellow / White Peas cash market is expected to move up by INR 100-200 per quintal on expectation of lower imports and spill-over effect of Chana. Chana market sentiment would continue to guide the Peas market sentiments ahead.