Canada lost its position as a leader in the supply of peas to China in 2023/24 MY

In 2023, China increased the imports of peas compared to 2022 by 64.2% to 2.656 mln tonnes in physical volume and by 22.22% to 1.046 bln USD in monetary terms. From January to April 2024, the country increased the import of peas by 1.4% to 488.2 thsd tonnes compared to the same period of 2023, but its price decreased by 13.7% to $1.97 mln.

According to the Union of Grain Exporters, in 2023/24 MY Russia became the main supplier of peas to China with the share of 49.1% or 1.13 mln tonnes, pushing Canada to the second place, whose share in Chinese imports decreased to 44.7%. The next steps were taken by the United States (3.4%), Australia (1.7%) and France (1.1%).

According to Rusagrotrans estimates, in 2023/24 MY China became the main buyer of Russian peas (1.13 mln tonnes), ahead of India (725 thsd tonnes). Also, Spain (385 thsd tonnes), Turkey (375 thsd tonnes) and Latvia (225 thsd tonnes) were in the top 5 largest buyers.

In 2023, Russia supplied 2.63 mln tonnes of peas to the world market and became the leader in its exports, pushing Canada to the second place, which exported 2.54 mln tonnes. The third place was taken by Turkey, which exported 340 thousand tons of peas.

According to the forecast of the Ministry of Agrarian Policy, Ukraine will harvest 360.3 thsd tonnes of peas in 2024, compared to 384 thsd tonnes in 2023 and 566.3 thsd tonnes in the pre-war 2021.

The purchase prices for peas with delivery to the Black Sea ports increased to 12700-13300 UAH/t due to the stable demand from India.