Pea market quiet, beans buoyant

By FWi staff

THE pea market is trading very quietly at present, with small quantities on offer for domestic consumption.

Ex-farm prices are at £78-80/t for 20% protein. At these prices peas are struggling to compete in feed rations against 40% protein soyabean meal at £120/t, said Ian Wallis of Cargill plc.

Export is slow and competition is strong from French, Polish, Ukrainian and Canadian peas.

Values are similar to last years, except for human-consumption peas, which went through the roof, up £70/t on last year.

Beans have been more buoyant, and current stocks indicate that there will not be a huge amount of surplus, said Barry Barker of Dalgety.

Prices should remain stable at £75-76/t, with movements of no more than a couple of Pounds either way, he said. The market will be driven solely by supply and demand.

The export market for beans has been steady since harvest and, although there is limited scope for prices to rise, continued demand from Spain looks set to continue through the remainder of the season, said Mr Wallis.

Exports to Italy are also expected.