Ukrainian peas on the threshold of the Chinese market: prospects for farmers
The Ukrainian pea market remains stable in terms of prices, but analysts expect a possible breakthrough in 2025 due to the opening of the Chinese market for products of Ukrainian origin. This was reported by analysts of the agricultural cooperative PUSK, created within the VAR.
Currently, Ukrainian intermediaries offer standard purchase prices, but potential access to one of the world’s largest markets could change the situation.
“As of November, prices for peas on the domestic market have remained stable. Now at the Western Container Terminal in Ternopil, purchase prices range from 15 100 to 15 200 UAH/t. Intermediaries offer similar prices in other regions, which range from 14 800-15 000 UAH/t. At ports, prices are slightly higher – 15,500-16,000 UAH/t, depending on product quality and delivery terms,” say PUSK analysts.
As of today, India, Turkey and the EU countries remain the major importers of Ukrainian peas, but the negotiations with China are already underway on the potential exports from the beginning of 2025. “Active negotiations are currently underway to open the Chinese market for Ukrainian peas. According to the latest data, there is a possibility that China may allow imports of Ukrainian products as early as January 1, 2025. If this market opens, it will be a significant step for Ukrainian producers, as it will significantly increase exports,” the PUSK believes.
New export opportunities to China are expected to have a positive impact on the price situation on the pea market. “This opening can be a major factor for the market, which will allow to keep the price level high during the next seasons. Even if China does not start massive purchases from the beginning of 2025, the potential demand for the next season is already creating additional optimism among Ukrainian pea producers,” the analysts added.
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