Russia “misses the mark” on peas despite record crop

In the 2025/26 marketing year, farmers in Russia significantly expanded pea planting areas, responding to strong prices in the previous season and attractive crop profitability. This led to a record harvest, initially seen as a factor that could strengthen the country’s export position in the global pulse market.

However, the surge in supply quickly shifted market fundamentals. Global demand for peas remained relatively stable, with no signs of sharp growth, while key importers — India and China — continued to buy selectively, primarily focusing on price rather than volumes.

Additional pressure came from competition from other major producers, particularly Canada and the EU. As a result, the market turned oversupplied, limiting any potential upside in export prices.

Exporters also faced stricter buyer requirements regarding quality and contract terms. This slowed down the movement of large volumes and left part of the crop in storage or forced sales at discounts.

Overall, the pea market situation highlights that record planting areas driven by high prices do not necessarily translate into higher revenues. For Russian producers, the key challenge of the season was not production volumes, but the ability to monetize excess supply in a weak and selective demand environment.

Tags: Russia, pea