News

May Market Updates

Fishing in the north of Peru has been quite good with daily catch in the 40,000 m/t range, except for the first couple of days when there were fewer vessels active. The total catch up to Thursday is now just under 175,000 m/t. There are some stories that buyers’ bids are moving lower although no one much says that there are any significant buyers’ bids. As of now there has been no real movement in price as everyone is waiting to see how well the next few weeks of fishing goes.

Rice prices have been slightly bearish the past couple of weeks. Chickpea acres are up in Canada, which could lead to better prices during contracting season here in the next couple of months. Articles have come out indicating that the planting of pulses in Canada have been delayed due to the later snowfalls. This should not have too much of an affect on the overall pricing structure. Red lentils are still trading at a discount to greens and seem to be plentiful. Peas have been holding steady, there had been talk of a government tender which briefly elevated prices, however it has not come to pass. Similar with past years, we can expect the pea prices to hold steady or increase until new crop.

 

– Loren Topp, Purchasing Agent