Ukrainian peas to cost not lower than $325 per 1 tonne in 2024 - industry association

MOSCOW. May 8 (Interfax) - The price of Ukrainian peas will be at least $325 per one tonne in the 2024 season, Ukrainian media outlets said with a reference to the Community of Pulse Producers and Customers of Ukraine head Antonina Sklyarenko.

The association mentioned that the government of India recently announced the extension of duty-free imports of yellow peas to the country until October 3, 2024. This decision was caused by serious weather conditions, which negatively impacted the harvest of agricultural crops grown in the country and led to a shortage on the domestic market.

"The demand for Ukrainian yellow peas in the world will remain stable until the end of the year, and prices will grow. It can be expected that prices of the Ukrainian pea harvest will be at least $325 per tonne in 2024," Sklyarenko said.

Ukrainian farmers have already expanded crop areas under peas in anticipation of an increase in demand and prices on the international market, she said. According to official reports, peas were planted on 161,000 hectares in Ukraine, but actual rates of crop areas are higher.

"The upcoming season promises to be successful for pea growers, because the world demand for grown legumes at favorable prices will be ensured," Sklyarenko said.