Ukraine starts harvesting peas: prices remain stable thanks to India

Ukraine has actively started harvesting peas, having already harvested more than 50 thousand tons. Despite the expected decline in prices under the pressure of the new harvest, the market value of peas remains stable. This was discussed during the analytical briefing of the PUSK cooperative, established within the framework of the VAR.

“Conditional purchase prices are in the range of 12 700 – 13 000 UAH/t. This high level of prices is largely supported by India’s decision to abolish the import duty on yellow peas by the end of 2024. As a result, the demand for Ukrainian peas remains high. In the Odesa ports, new crop peas are contracted at $260-270 per ton,” the analytical department of PUSK says.

According to the analysts, the forecasted gross harvest of peas in Ukraine is estimated at about 450-460 thousand tons, which exceeds last year’s supply of the legume. However, this figure may be adjusted depending on weather conditions.

“Theoretically, during the harvest, prices may decline slightly, but it is expected that in August-September the price of peas may return to the level of 13,000-14,000 UAH/t due to stable demand from India,” the PUSK adds.

Thus, Ukrainian farmers can count on favorable conditions for selling this year’s pea crop.

Tags: Ukraine, prices, India, harvesting, pea