Yellow pea prices have collapsed due to tepid demand, according to Stat Publishing.
They say markets are worried by the slow pace of open season demand, especially from Asian destinations.
Yellow pea prices were $6.74 per bushel as of September 3, down from $9.25 a couple of weeks earlier, a 27 per cent drop.
Kent Anholt, operations manager with Rayglen Commodities Inc., says it is easy to point the finger at where the blame lies.
China announced in March that it was implementing a 100 per cent tariff on Canadian peas and other agricultural products in response to its anti-discrimination investigation regarding Canada’s tariffs on Chinese electric vehicles, steel and aluminum products.
Anholt said that was a big blow to the industry that is coming to roost as harvest pressure mounts.
China has been the top buyer of Canadian yellow peas since 2017 when India started reducing its purchases.
