Rapidly increasing role of the Black Sea region in the pea market

29.08.2017

The pea harvest is over in Ukraine. According to current harvest progress reports, the Y2017 gross pea crop in bunker weight is 44% higher than last year. This result was achieved primarily due to a pea acreage expansion to a 20-year high. However, a higher average yield contributed to the crop record, too. Although having decreased 17% from last year’s high, the pea yield is now at one of the highest levels for Ukraine, UkrAgroConsult notes.

Thus, due to record production in the season of 2017/18 pea exports from the country may retain their upward trend in the current season and hit another high.

Russian pea market shows a trend similar to that seen in Ukraine. Russian farmers planted 1.34 Ml ha to peas in 2017 that is the largest area since 1995. In the same manner, pea yields in Russia have been rapidly rising over recent years. Therefore, production in this market segment may hit new highs. Simultaneously, a gain in Russian pea exports should be expected as well, because pea consumption in Russia remains relatively stable.

In addition, Bulgaria almost doubled its pea plantings to the largest area since 1991. Kazakhstan expanded its pulse acreage by 17% in 2017.

So, pulses, including peas, become increasingly important in the Black Sea countries, reports UkrAgroConsult.

Full version of the article is available to subscribers for weekly market report “Black Sea Grain & Oil” and “Online market review” by UkrAgroConsult.

 

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