THE BIG PICTURE
regions are “more pessimistic” and expectations are between 15-20%, whereas Ivan Basov, also of Top Grain, estimated that the crop could be “up to 30%” lower than expected. Elsewhere in the Black Sea, some estimates for Ukraine’s yellow pea crop have been over 400,000 MT, but the ongoing impact of the Russian invasion will likely affect the final volumes out of the country while Bulgaria and Romania are reportedly set to produce around 150,000 MT each. Many in the trade believe the region will have to step up to fill demand from EU27, which in June made an announcement that will significantly impact trade flows in 2024. EU duty on Russian peas The European Union (EU)’s has placed an import duty on cereals, oilseeds, dry peas, and various derivatives of these products
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