Variation of lentils, beans, peas, grain ,soybeans, legumes, backdrop
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Kailash Kumar
Indian importers have resumed the import of US green lentils, but they are demanding that exporters renegotiate the prices, which were high when the deals were signed.
“Indian green lentil shipments have commenced, but buyers are asking to renegotiate prices due to huge price collapse,” said Ameer Mehdi Buhari, President and CEO, Agcore Trading.
He told businessline that prices of various pulses, particularly green lentils, have been driven down by huge Canadian and US crops this year.
Besides Canada and the US, countries such as Australia and Russia are also reporting good harvests of peas and lentils. African nations are reporting a good pigeon pea crop.
Retaliation fear
Indian importers had paused imports of US agricultural products, mainly lentils and beans, during July-September, fearing the Indian government could retaliate against the Donald Trump administration’s punitive tariffs imposed in August.
Washington imposed a 25 per cent tariff from August 7, claiming that New Delhi is imposing higher tariffs on its goods. It began levying an additional 25 per cent duty from August 27 on India for buying crude oil from Russia.
India and the US continue to hold negotiations, but Indian Commerce Minister Piyush Goyal has said New Delhi will not sign any bilateral trade agreement in haste.
“Last year, forward contracts to India were trading at $850 a tonne levels (starting and going all the way to $1,250 at the peak). This year’s market is at $560,” Buhari said.
Current offers
According to data from the Global Pulses Confederation, Canada is offering green lentils currently at $640 a tonne compared with $765 in August. Russia, on the other hand, is offering them at $610 compared with $785 in August.
At the same time, prices of African-origin pigeon peas have crashed to levels of $550 a tonne from over $600 in August. However, Myanmar has maintained its prices at around $775 levels. The neighbouring country prices have increased on hopes of higher imports from India, where the crop has reportedly been affected by heavy rainfall over the past couple of months.
Similarly, prices of chickpeas have plunged below $500 a tonne from about $700 in August. Prices of yellow peas, which are held responsible for the price collapse in the pulse market, have nosedived to between $300 and $320 a tonne from $415 in August.
Lower pigeon pea prices have put pressure on lentil prices. US exports of green lentils to India are limited. More Indian imports of large-sized green lentils are being imported from Canada, especially Vancouver port.
USDA estimates
Trade sources say US green lentils find their way to Tamil Nadu, where the State distributes them through ration shops. The US exported at least 44,000 tonnes of green lentils to India last year. Some buyers in Tamil Nadu sell these lentils in interior south as a substitute for pigeon peas.
According to the Australian Bureau of Agricultural and Resource Economics (ABARES), Australia is estimated to produce 2.1 million tonnes (mt) of chickpeas against 2.3 mt last year, while lentil production has been projected at 1.7 mt compared with 1.6 mt last year.
The US Department of Agriculture (USDA) has estimated dry pea production at 800,000 tonnes. Its lentil production is projected at 425,000 tonnes, 4 per cent higher than the previous year.
Agriculture and Agri-Food Canada has estimated Canada’s dry pea production to be over 3.5 mt in view of higher acreage. In the case of peas, Canada will likely harvest nearly 3 million tonnes of yellow peas and 550,000 tonnes of green peas.
Bearish prospects
It has projected lentil production to increase to 2.75 mt. Of this, red lentil production is expected to be around 1.4–1.45 mt, 19 per cent lower than in 2024-25. Green lentil output is estimated at 1.15–1.2 mt, about 60 per cent higher than in 2024-25.
In the Black Sea region, Russia is expected to harvest a record 6.8 million tonnes of pulses, mainly chickpea and peas. Ukraine’s crop is projected at a record 610,000 tonnes as the coverage increased 25 per cent this year.
Of this, chickpea production is estimated at around 700,000 tonnes and that of peas at 4.7 million tonnes, with yellow peas making up the bulk. Green peas production is reported to be 50,000-100,000 tonnes. Some estimates project pea production at over 5 million tonnes. Russia’s lentil production is projected at 600,000 tonnes.
All these portend a bearish trend in the pulses market, though prices increased a tad last week as Indian importers were reported to be buying.
Published on October 29, 2025