Price for Ukrainian peas to be good in marketing year 2024-2025 - analysts

MOSCOW. July 2 (Interfax) - Ukraine has threshed over 50,000 tonnes of peas, and the crop price remains stable despite the expected fall under pressure from the new harvest owning to the lifting of India's duty, Ukrainian media said, citing a forecast of the Ukrainian Agri Council's Pusk analytical cooperative.

"Conditional purchase prices keep at 12,700 - 13,000 hryvni per tonne. The high price is largely supported by India's decision to scrap import duties on yellow pea until the end of 2024. Demand for Ukrainian peas remains high as a result. Peas from the new harvest are contracted at a price of $260-270 per tonne at Odessa ports," the analysts said.

They are expecting Ukraine to harvest about 450,000 - 460,000 tonnes of peas, which is more than last year. Yet the actual harvest depends on the weather.

"Theoretically, prices may lower a bit during the harvesting, while returning to 13,000 - 14,000 hryvni per tonne as early as in August and September thanks to stable demand from India," the analysts said.

They think the marketing year 2024-2025 will be good for Ukrainian pea growers.