Canadian lentil prices have seen a sharp and unexpected decline in the global market this year. The average price for Canadian lentils is now around $815 per ton, representing a drop of about 25% compared to last year.
The main drivers behind this trend are oversupply in the global market and weaker demand from major buyers such as India. Export prices to key markets, including Turkey, have also fallen, with green lentil prices reported at approximately $810 per ton.
Analysts note that increased production in Western Canada, combined with reduced international purchases, is putting pressure on prices. This oversupply situation makes it a challenging period for Canadian lentil producers, who may need to explore alternative markets or adjust production strategies.
Experts warn that unless demand picks up or supply stabilizes, prices could remain low for the remainder of the year, affecting the profitability of the lentil sector and potentially reshaping trade flows.
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