In this issue: -We zoom in on the ins and outs of the North American dry bean scene. -How are trips to the polls in the USA and Mexico impacting markets? -Why the focus is moving off of Canada -The Port of Montreal's biggest ever expansion -And more!
PULSE FORWARD DRIVING THE FUTURE OF FOOD SYSTEMS USA'S Acres up, markets rolling: we zoom in on the ins and outs of the North American dry bean scene. BIG BET ON BEANS
I S S U E # 1 4 OC T . 2 0 2 4
PERSPECTIVE SHIFT Chuck Penner on why the focus is moving off of Canada GETTING POLITICAL How are trips to the polls in the USA and Mexico impacting markets?
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SUPPLY CHAIN SCALE UP THE PORT OF MONTREAL'S BIGGEST EVER EXPANSION
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Contact us EDITOR IN CHIEF MARIANA FUSARO mariana@globalpulses.com CONTENT EDITOR LARA GILMOUR Lara@globalpulses.com
SHORTLIST / GPC AWARDS
ULaTrobe Researchers The team, led by Dugald Reid, successfully identified the nitrogen fixation "off-switch" in legume plants. COUNTRY: AUSTRALIA
NOMINEE FOR: INNOVATION Read more here What is your contribution
to the industry? Finding this switch is about finding new options for pulses, putting them in places where maybe they weren’t optimal previously and making them more attractive to growers. What is the potential of your initiative? This research is supported by Gates AgOne, which is focused on improving the yields of staple crops. This discovery can help us boost the productivity of cowpeas, which are a vital food for 200 million people in Sub Saharan Africa.
SHORTLIST / GPC AWARDS
USA Dry Pea & Lentil Council Its efforts have led to improved soil health, reduced water usage, and decreased carbon footprint in pulse cultivation.
COUNTRY: USA NOMINEE FOR: SUSTAINABILITY www.usapulses.org
What is your contribution to the industry? Through innovative research, farmer education programs, and consumer awareness campaigns, the Council has significantly increased the adoption of environmentally friendly farming practices. What is the potential of your initiative? By championing the nutritional and ecological benefits of pulses, it has fostered a more sustainable food system while supporting American farmers and global food security.
SPOTLIGHT
The U.S.-Mexico trade landscape in 5 key facts
The dollar, the peso, and the impact of elections on markets.
BY LUKE WILKINSON
1 • Political change On June 3, Claudia Sheinbaum’s Morena Party won a landslide victory in Mexico, forming a left-wing coalition to take over from long-serving president Andres Manuel López Obrador. The strength of the victory created a shock in Mexican markets, causing the peso to lose more than 13% of its value since the first week of July.
SPOTLIGHT
2 • The peso drops The day before the election, 1 USD cost 16.97 pesos. Within a week, the exchange rate had hit 18.32 pesos and has been dropping ever since. With around 75% of Mexico's bean imports coming from the USA, cross- border imports quickly became more expensive for Mexican importers, putting U.S. exporters under pressure. 3 • Trade view Cristobal Lopez of Comercializadora Los Arbolitos says the behavior of the peso will be "fundamental" to bean prices this year: "Further drops would cause bean prices to decrease in both the USA and Mexico. The upcoming Mexican harvest, which looks to be between good and excellent, could also mean prices fall even further." 4 • Rebound & reform The peso rallied on September 11 ahead
SPOTLIGHT
of the U.S. Federal Reserve cutting interest rates by an unusually high 0.50%. Mexico passed the first part of its reform to the judiciary shortly after, about which both the USA and Canada have publicly asked questions - and which could cause difficulties in the 2026 renegotiation of the NAFTA re-agreement. With around 75% of Mexico's bean imports coming from the USA, cross- border imports quickly became more expensive for Mexican importers. 5 • USA elections The first Trump-Harris debate caused a real-time drop in the dollar against the peso. With the two U.S. presidential candidates expected to have different styles and relationships with Mexico, farmers and traders on both sides of the border will be watching election night carefully.
PULSE POD CURATED
Our latest talking points
PULSE POD CURATED
MORE ON U.S. BEANS -THE CRUCIAL QUESTION OF THIS ISSUE-, PLUS IMPORTS IN PAKISTAN, THE EFFECT OF DROUGHT AND RAIN ON THE RUSSIAN HARVEST, AND, OF COURSE, WHAT’S HAPPENING WITH PRICES.
PULSE POD CURATED
PULSE POD CURATED
FOOD FORWARD
Factor in the U.S. consumer
Some figures on plant-based food retail reveal the state of affairs in the North American industry… And offer a few lessons on attracting one of the most appetizing markets in the world.
BY MARIANA FUSARO 4 MINUTE READ
$8.1 BILLION. The U.S. retail market for plant-based foods hit that value last year - a substantial growth from the $3.9 billion valuation in 2017, when the Good Food Institute (GFI) began tracking sales in the country. The main drivers for that growth? Continued innovation - and
FOOD FORWARD
There are bright spots ahead for plant-forwarders. By 2040, consumers aged 16 to 40 (66% of whom plan to spend more on plant- based meat and dairy in the future) will represent 69% of global spending.
FOOD FORWARD
investment - in products that entice mainstream consumers by mimicking the taste and texture of their animal counterparts. $394 MILLION. Online sales of plant- based foods, representing 6.8% of market share, outpaced animal-based food purchases on e-commerce platforms in 2023. SIX IN 10 U.S. households bought plant-based foods last year. EIGHT IN 10 plant-based consumers are maintaining or increasing their purchases in 2024. 95% of the households that bought plant-based meat and seafood also bought animal meat.
FOOD FORWARD
ONE IN FOUR. When it comes to plant- based meat, 25% of U.S. consumers are “lapsed purchasers”, meaning they buy once but don’t repeat their purchase in the subsequent three months. When asked what would convince them to buy a new plant-based meat product, the top reasons are taste and price followed by health (less fat and cholesterol or more protein than animal meat), and then altruistic (environmental impact or animal welfare) reasons. The research indicates that, to create sustained growth, plant-based products will need to meet or exceed mainstream consumers’ expectations around the three key drivers of price, taste, and convenience.
FOOD FORWARD
9%. Plant-based unit sales fell 9% YoY, corresponding to a 2% fall in dollar sales. In fact, plant-based food price increases coincided with elevated inflation, and market dynamics indicated that, despite all stereotypes, U.S. consumers cut back on food spending in general; yet plant- based experienced the biggest declines. Creamers, protein powders and liquids, baked goods and other desserts were the only plant-based categories that grew both in dollars and unit sales in 2023. • 5%. Food-at-home prices were 5% higher YoY in 2023, twice the 20-year historical average. Plant-based food prices increased 8%; animal meat and seafood prices increased 3%. Add the fact that plant-based categories often sit at two times (milk and meat) to four times (eggs) the price of their
FOOD FORWARD
conventional counterparts, and it’s clear that the price gap remains a substantial barrier. The research indicates that, to create sustained growth, plant-based products will need to meet or exceed mainstream consumers’ expectations around the three key drivers of price, taste, and convenience - plus offer a compelling switching proposition to seal the deal for the long term . And who doubts the market in the USA will see more and more brands scaling up investment, innovation, and creativity in communication to find themselves top of the list? After all, you make it there, you make it anywhere, as the song says.
SOURCES: INSIGHT AND RESEARCH RELEASED BY THE GOOD FOOD INSTITUTE (GFI), THE PLANT BASED FOODS ASSOCIATION (PBFA), THE U.S. DEPARTMENT OF AGRICULTURE (USDA) AND MINTEL GROUP.
PULSES & BEYOND CHUCK PENNER LEFTFIELD
“The size of the Canadian crop no longer determines global prices” From Winnipeg, Canada, the founder of Leftfield Commodity Research talks to Lara Gilmour about price trends, competition in peas and the Indian lentil MSP. BY LARA GILMOUR 5 MINUTE READ When it comes to market analysis, are you a data person or a sentiment person? I’m a bit of a numbers nerd. They say that you can tell if you enjoy your job when, at the end of the day, you think 'well, where
FOOD FORWARD PULSES & BEYOND CHUCK PENNER LEFTFIELD
“If it hadn't been for the lentil MSP, I think prices both in India and globally would have dropped further.”
FOOD FORWARD PULSES & BEYOND CHUCK PENNER LEFTFIELD
did the day go?'. For me, the numbers help take some of the emotion out of it. Some traders are very dialed into the here and now but the numbers help you step back and see past the individual deals to the trends and some of the other things that don't show up in the day-to-day dealing. That's what we contribute; we don’t predict the future, we provide reconnaissance for things that might be happening in other parts of the world or even locally that you may not see, and then we pull together those relevant parts. Let’s talk about the Canadian lentil crop. The lentil crop is bigger, although last year was an unusually small one. It's always important to know what you're comparing to. Acreage was up. The reports are pointing to better yields than last year so that does mean bigger supplies, especially for green lentils, as the acreage increases this spring were larger in percentage
FOOD FORWARD PULSES & BEYOND CHUCK PENNER LEFTFIELD
terms. I don’t think we’ll see supplies expand to the point of being heavy though, it’s more like a recovery back to comfortable levels. How have green lentil prices influenced markets this year? We used to operate much more in silos where what happened in Canada was a very large driver of price and I keep telling our Canadian clients that the size of the Canadian crop no longer determines global prices - and that doesn't just apply to lentils! When Canadian farmers see good prices, so do Russian and Kazakh farmers and Australian farmers and they all certainly responded to that. Last year’s green lentil market hit record prices in Canada. Those prices have dropped very sharply and now seem to be leveling off a little bit. I don't know necessarily how it’s going to transition in the next few months but we do watch seasonal prices quite
FOOD FORWARD PULSES & BEYOND CHUCK PENNER LEFTFIELD
PING-PONG How do you let off steam? Woodcarving. Best piece of advice you've received? "There will always be a good deal." If you could eat one meal for the rest of your life, what would it be? Smoked ribs. If you could give your 18-year-old self some advice, what would it be? "Don’t stress too much about the future". What is one quality you think everyone should have? Honesty. What’s the last great book you read? The Silk Roads by Peter Frankopan. Favorite wood to carve from? Diamond willow. Who is someone you admire? My late father. He was quiet but steady.
PULSES & BEYOND CHUCK PENNER LEFTFIELD
closely and we’re at the point in the year during harvest or just prior when we hit these low points and then prices tend to flatten out or even rise a little. Last year the market was starved of supplies and there were virtually no inventories, both in Canada and in importing nations, so there is a certain amount of restocking of shelves going on, which is helping support that. So there’s going to be an initial surge in trade until those are filled, which will help support prices a little bit in the short term. Once that is refilled, supplies will have been drawn down to some degree but not nearly where they were this last year. What about red lentils? Prices are softening. In Canada, farmers have prices in their head of what they would like to get for a crop and they tend to be round numbers. Prices [in September] were a little bit below 30 cents a pound (CAD) and that's a bit of a sticking
PULSES & BEYOND CHUCK PENNER LEFTFIELD
point where they'll stop selling if prices go below that so that tends to provide a floor. Now, we'll wait to see what the Australian crop is like in South Australia and Western Victoria; there are some vulnerable conditions there, we'll see. And then dialing forward, we'll see bigger Russian and Kazakh crops as well too. They have some harvest challenges right now but I think overall there are some significant increases although I’m not sure of the breakdown between red and green. That's a little bit of an added supply to the situation but I don't know if I would classify it as a glut. I would just say comfortable supplies, flat prices: that’s the most likely scenario. How is the Indian Minimum Support Price (MSP) impacting prices for Canadian lentils? Prices in India have been pretty lackluster. The MSP has kind of held the market up
PULSES & BEYOND CHUCK PENNER LEFTFIELD
where it has been. If it hadn't been for that, I think prices, both in India and globally, would have dropped further. But if Indian farmers see that and aren't too excited about planting lentils, maybe that'll provide a little more demand again, rolling into early 2025. The MSPs for lentils have been rising faster than for other crops. In prior years, it really hasn't been a large influence on the market, but they've raised them so far that it's to the point now where it really is encouraging Indian acreage. And so what we have is a situation where they raised the MSP to well above the market price and so Indian farmers are better off selling to the government and keeping them off of the market. So the market needs to keep its prices close to that MSP or they won't have access to lentils and that tends to keep prices supported. So in some ways, Canadian farmers could be even worse off if it hadn't been for that.
FOOD FORWARD PULSES & BEYOND CHUCK PENNER LEFTFIELD
ABOUT LEFTFIELD COMMODITY RESEARCH
Founded in 2010 by Chuck Penner. Provides ongoing market analysis for Canadian grains, oilseeds and special crops. Covers all Canadian crops in its analysis, but the scope is global. Offers 3 weekly services: the Special Crops Letter, the Canola & Soy Letter and the Small Grains Letter. Over 30 years of combined expertise in commodity research. Supports 16 charitable organizations in Canada and beyond.
PULSES & BEYOND CHUCK PENNER LEFTFIELD
How is competition from Russia impacting Canadian pea farmers? It’s primarily present into China, where Russia is controlling over half of trade. And the trade volumes in China are dropping so, in some ways, you have a similar picture than in India, because late last year, China imported piles of peas from Canada and Russia. These huge inventories have started to come down but they're still sitting on a lot. Then you have the trade rulings on pea protein and things like that from the U.S. that may cause the fractionation industry to contract a little bit but it's easy to overstate that. When India dropped their tariffs to zero, Canadian farmers were ecstatic: we've got China, we've got India, and they're going to compete like crazy for our peas. And it hasn't quite played out that way: India bought around 1.6 million tonnes of peas in a pretty short order but then it's gone quiet from both India and China.
THE BIG PICTURE
The bean game has begun
In 2024, the USA planted more black bean acres than any time in the last decade, with farmers gambling on a bullish Mexican market. Now, the approaching harvests are pointing to the potential of a supply- driven market in both blacks and pintos. We turn our gaze south of the border – to the big driver of exported U.S. beans – and look at what a possible recovery in Mexico means for trade. The question for the USA is: was betting big on beans a gamble, or a smart play? BY LUKE WILKINSON 8 MINUTE READ
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THE BIG PICTURE M exico’s spring/summer crop has struggled for three years in a row, but last year was drastic. Production of black beans and pintos were down 44% and 55% respectively year-on- year (YoY), creating a desperate need for imports to cover domestic consumption. In the months of October, November, and December 2023, Mexico had already imported 150 thousand tonnes of beans. Imports were, according to Vicente Mendoza, independent bean market consultant, "the only mechanism” Mexico had left to ensure there were enough beans for its market. By the end of 2023, imports had doubled YoY. A huge chunk of those record imports, and of those to follow, would hail from the USA. On average, the USA took 75% of market share between last September and August this year; the Mexican crop failure has proved a boom for American traders. "Our exports went phenomenally this
THE BIG PICTURE
White navy, brown Dutch, kidney, pinto, cranberry and black turtle beans (Shutterstock).
THE BIG PICTURE
year," says Dylan Karley of North Central Commodities. "We've been completely sold out of our processing plant since around March, just waiting for the new crop." The new U.S. crop is going to be packed with pintos and black beans – aimed at capitalizing on high prices and the promise of strong demand. Estimates put 2024’s pinto production at around 673 thousand tonnes (46% up YoY) and black beans at 471 thousand tonnes (47% up YoY). But as the season progresses, the question emerging is: will this leave the USA drowning in beans? Mexican beans bounce back in '24 Mexico's drought last year was unusually extreme – its driest year on record. The bean crop is sure to improve this year by virtue of actually being in the ground. We won't know by how much it improves until October/November, when the harvest begins, but early signs
THE BIG PICTURE
are cautiously promising."This year looks a lot better," says Vicente Mendoza, "but that's not to say we're expecting a huge volume of beans – I'd still place this harvest somewhere below average. Estimates suggest somewhere between 500-550 thousand tonnes in total." Parts of the U.S. black and pinto bean crop have been pre-bought. Sam Peck, Sales Manager at Jack’s Bean, explains: "All of the big guys in Mexico have bought black and pinto beans – a lot was purchased in February.” As such, Peck thinks it unlikely we'll see large southward sales of U.S. beans between now and the harvest: "Everybody's got contracts to ship against, so anything bought now probably wouldn't get shipped until November – there wouldn’t be much point! I don't see Mexico putting any real pressure on our market until maybe early second quarter next year." USDA numbers suggest Mexico was bringing
THE BIG PICTURE
in on average 28,769 tonnes of beans monthly between September 2023 and July 2024. Some trade sources suggest Mexico will only be importing around 35% of that number this year. And the picture may be even tighter. Vicente Mendoza No crop is certain until it’s out of the ground. But what is certain is that if Mexico achieves the top end of estimates, the USA could be left holding bags and bags of black beans and pintos. believes Mexico will comfortably cover domestic demand with existing stocks and an improved crop: "For market year 2024/2025, it's likely we will consume around 750 thousand tonnes of beans – with a carryover of around 200 thousand tonnes. Added to the 500-550 thousand tonnes of spring/summer harvest, this alone gives you what you need to satisfy
THE BIG PICTURE
Boston baked beans, a popular U.S. regional dish, are made from domestically grown navy beans (Shutterstock).
THE BIG PICTURE
domestic needs. That’s without counting the autumn/winter crop in February. To me, it all points towards a fall in imports." A lot can happen between now and both the U.S. and Mexican bean harvests – no crop is certain until it’s out of the ground. But what is certain is that if Mexico achieves the top end of estimates, the USA could be left holding bags and bags of black beans and pintos. Argentina’s absent alubias Another bean producer down on its luck of late is Argentina. Drought, poorly- timed rains, and early frosts decimated the bean crop this year – a second consecutive year of crisis. CLERA reports the alubia crop down to 30% of a typical year, estimating only 25 thousand tonnes of exportable volume from now until the next crop. So did the removal of so many white beans from the picture not leave space for the U.S. to capitalize? Apparently
THE BIG PICTURE
BY THE NUMBERS
THE RESPECTIVE YOY DROP IN BLACK AND PINTO BEANS IN MEXICO'S 2023 SPRING/SUMMER CROP. 44% AND 55%
150,000 MT
TOTAL MEXICAN BEAN IMPORTS AT THE END OF DECEMBER 2023 - DOUBLE THAT OF 2022.
75%
THE USA'S AVERAGE MARKET SHARE IN MEXICAN BEAN IMPORTS, BETWEEN SEPTEMBER 2023 AND AUGUST 2024.
THE BIG PICTURE
not. According to Pulse Atlas data, U.S. navy bean acres dropped by 20 thousand YoY, although Great Northerns were slightly up 0 by around 10 thousand. Was there no appetite for upscaling? "The problem is that white beans are less liquid – you can sell a black bean any day of the week, but sometimes you can't give white beans away," says Sam Peck. "It's not really the farmers not wanting to plant them, it’s the processors saying 'we're not going to sell you seed because we can't move it.' For U.S. navies, the big companies are aligned with the canners. If you aren’t in that alignment, there isn't a whole lot of liquidity for white beans." Recently, both Argentina and the U.S. have ceded ground to Egypt in white bean markets in the European Union (EU); the former due to poor output and the latter due to high EU tariffs on U.S. beans. The tariffs have priced out American white beans, and even though Egyptian alubias
THE BIG PICTURE
BY THE NUMBERS
ESTIMATES FOR THE TOTAL MEXICAN DRY BEAN CROP THIS YEAR. 500-550 KMT NEW CROP ESTIMATES FOR U.S. PINTOS AND BLACK BEANS - AN INCREASE OF 46% AND 47% YEAR-ON- YEAR, RESPECTIVELY. 673 AND 471 KMT
76-101 KMT (1.5-2 K CWT)
FORECASTED CARRY OVER FOR U.S. BLACK BEANS IN 2024.
THE BIG PICTURE
are not the European market’s preferred quality, Egypt production being up by a third this year tells its own story. Ukraine’s success moving into white pea bean exports has further crowded the market. Another factor stopping U.S. farmers adapting to the Argentinian crop failure – also in kidney beans and cranberries – was timing. The frost that caused so much damage to Argentina’s beans occurred in late May – too far along for many to adjust. By then, seed was bought and the logistics of switching out acreage were complex. Black beans and pintos may have been not just the best, but the only option. U.S. beans as things stand "Normally on black beans we like to have a carryover between 500,000 – 800,000 hundredweight (CWT) (25-40 thousand tonnes) but some forecasts have us carrying over between 1.5 million-2 million CWT (76-101 thousand tonnes)," Dylan
THE BIG PICTURE
Cranberry beans, widely used in Mexican chili (Shutterstock).
THE BIG PICTURE
Karley told the GPC in early September, although he doubted there would be a similar carryover for pintos. Other trade sources put pinto carryover as high as 3-4 million CWT (152 KMT). Karley explained that a large carryover doesn't give him any sleepless nights: "We'll eventually get through those beans, but we’ll need a reduction of acres next year… When you do end up in a supply- driven year like this, it just takes time to eat through the stock." Depressed pricing – likely if harvest projections come true – may open up the U.S. portfolio of destinations. Karley thinks the USA has "got uncompetitive" in other markets in which they had previously had a foothold, such as Central and South America and Africa. Not having Mexico as an easy route may lead to a diversification and restoration of important trade routes and mean competition for the likes of Argentina, Canada, and Brazil, who all
THE BIG PICTURE
SHUTTERSTOCK
gained market share when the USA switched focus to its closest neighbor. The overproduction – if it occurs – may turn out to be an opportunity on both sides of the border: diversifying destinations for the U.S. and normalizing high prices for Mexico - a bonus considering recent pressure on the peso. Markets will keep moving and see some interesting evolution, even if the gamble on a poor Mexican crop looks unlikely to come off for the moment. But, that said, who can predict the weather?
SATELLITE VIEW
“India is now our largest trading partner”
Paul Bird, Chief Commercial Officer at the Port of Montreal, on building relationships and how they tackle container crunches at harvest.
BY LARA GILMOUR 5 MINUTE READ Interview from September 18, 2024.
What are some of the developments on the horizon for the port? We are preparing to move forward with the most important expansion project of our history as well as one of the largest port infrastructure projects in North America.
SATELLITE VIEW
"Trade corridors can be stronger than individual ports through the attraction of larger investments and a more diverse book of business."
SATELLITE VIEW
The Contrecoeur expansion, on the south shore of Montreal, will increase the Port’s capacity by over 50%, adding an additional 1.15 million Twenty-Foot Equivalent Units (TEUs) capacity to the overall value proposition of Montreal as an international container port. This will help prepare the port for the constantly growing demand fueled by its strategic location and ability to reach markets such as Ontario and the U.S. Midwest, which represents over 100 million consumers and 6,000 businesses. Canada is also the fastest growing population of all the G7 countries so this new development will help maintain Montreal’s key role in the supply chain’s landscape for generations to come. India and China are key consuming markets for Canadian peas and lentils. How does the port ensure smooth trade flows to these destinations? The port has invested heavily in its
SATELLITE VIEW
The largest container hub in Eastern Canada, the Port of Montreal handles all types of goods and operates in many industries (Shutterstock).
SATELLITE VIEW
infrastructure to increase rail capacity and cut transit times. A new truck overpass separates trucks from vehicular traffic on public roads, and our multi-stage ingate process ensures a fluid ingate and out- gate process. We have built 6 kilometers of new railways to allow us to accept trains of 14,000 feet or longer. Our advanced planning tools help our operations team make real-time decisions based on an amalgamation of data received from ships, terminal operators and railroads. Predictive analytics and excellent port infrastructure means that there is virtually no vessel wait time. How do you work with domestic pulse growers and exporters to improve their transport processes? What are some of the main challenges? Lack of awareness of Montreal’s advantages, including its position as
SATELLITE VIEW
ABOUT 3M tonnes in pulses and cereals exported annually, mostly to Asia, the Middle East, and Latin America. 60% of agricultural products trade comes from lakers (bulk vessels).
25% is containerized. 15% is bulk transported by rail/truck. 84% exports - 16% imports is the trade balance for containerized grain.
SATELLITE VIEW
a valid gateway to Asia. Shippers tend to think of Montreal for Europe and the Mediterranean but not for Asia - yet 28% of our container volume services Asian gateways and India is now our largest trading partner. Furthermore, many shippers are unaware that six of the largest steamship lines in the world call on the Port of Montreal, serving 140 countries. How do you build and maintain relationships with ports at destinations? The Port of Montreal has signed strategic port cooperation agreements in order to share best practices in operations and the energy transition, as well as to build strong commercial relationships with industry stakeholders. We have agreements with Antwerp Bruges, HAROPA, VINAMARINE and Marseille FOs and are also exploring multi-port partnership agreements to allow ports to leverage their influence to develop
SATELLITE VIEW
trade corridors. Trade corridors can be stronger than individual ports through the attraction of larger investments and a more diverse book of business. Stay tuned for more on this in the fall! Lack of container availability at harvest is a key issue for many pulse exporters. What measures does the port have in place to tackle this challenge? Container availability on the prairies can be a challenge at harvest time and there is strong competition for containers. The port has good container availability in Montreal due to its unique model: container ships are 100% off-loaded and reloaded. We have diversified the supply chain away from source-loading only to a railcar to container model. Shippers can take advantage of the Port of Montreal’s access to Class I railways, as well as Montreal’s world-class container stuffing partners, for an efficient supply chain.
FRACTIONS: A STORY IN 2 CHARTS
North American lentil production
1 CANADA Based on current forecasts, about 30% of the world’s red lentil production is expected to come from Canada in 2024. Production is expected to be the highest since 2020, at almost 2.5 million tonnes for red and green combined, due to markedly increased acreages and yields year-on-year. Canada began the year with carry-over of around 200 thousand tonnes and the exportable quantity for 2024 is projected at 1.8 million tonnes, headed for India, Turkey, UAE, Bangladesh and Pakistan. Although weather has had an impact Down Under, Australian red lentil production should nevertheless be more than sufficient to avoid any undersupply in markets.
FRACTIONS: A STORY IN 2 CHARTS
PRODUCTION 1,000 MT by Year
3,500
1,742 1,704
1,704
1,675 1,742
1,693
1,693
2,765 1,541
3,000
1,500
2,765
0
1,520
1
1,435
2,500 2,254
2,500
7
2,297
2,254
1,974
2,000
1,000
1,689 1,591
1
2,051
2,051
1,591 1,584
1,650
4
1,500
1,209
1,826
1,826
1,117 1,219
1
1,000
1,219
500
500
850 428
714 765
428 714
372 713
3
5
572 372
0
0
9
2020 2018
2021 2019
2022 2020
2023 2021
2024 2022
2
GREEN LENTILS
RED LENTILS
AREA HARVESTED (1,000 HA)
FRACTIONS: A STORY IN 2 CHARTS 2 USA
2024 production is a little over double the quantity of last year's, thanks to increased acreages and a positive yield outlook of almost 1.3 tonnes/hectare. One of the reasons for the upward trend is the increase in farmgate green lentil prices in the USA compared to a downward trend for cereals. As a result, reports suggest there are a lot of first-time green lentil farmers this year. With the 2024 harvest almost completed, trade reports suggest that 55-60% of the crop is between good and excellent quality. The biggest export destination for U.S. green lentils is Canada, with a 4-year average volume of between 90-100 thousand tonnes.
Trade reports suggest that 55-60% of the current crop is between good to excellent quality.
FRACTIONS: A STORY IN 2 CHARTS
PRODUCTION 1,000 MT by Year
400
385
38
16
316
287
287
300
600
267
267
500
50
212
212
81
381
200
400
210
210
197
197
336
336
259
259
241
241
223
223
100
200
155
155
0
0
018
2018
2019
2019
2020
2020
2021
2021
2022
2022
2023
2023
2024
20
GREEN LENTILS
AREA HARVESTED (1,000 HA)
2024 YIELD OUTLOOK OF ALMOST 1.3T/HA.
PARADIGM SHIFTER
Diversity holds the key to galvanizing consumption What are the real barriers to consumption – and the best ways to get people to eat more pulses? BY CHELSEA DIDINGER FOUNDER OF A LEGUME A DAY 2 MINUTE READ A s nations prioritize public health and sustainability and decide which foods they should be promoting, pulses are a natural fit. Yet, the United Nations found that the average level of global pulse consumption has stagnated at around 21 grams per capita per day.
PARADIGM SHIFTER
Pulses have a lot to offer and their myriad superpowers hold the key to turning consumption trends around. Demonstrating to consumers the striking culinary versatility of pulses – so that they are viewed as delicious and convenient to use on a regular basis – is essential to getting them on more plates worldwide. Currently, many people are not accustomed to regularly eating pulses and include them only in a few limited ways that are often rooted in local or familial tradition. One 2019 study showed the top barrier among non-consumers was “not part of traditional diet/do not think to include beans in meals,” with 57.4% indicating this as a main barrier. Making the unfamiliar familiar is primordial and betting on the diversity both of pulse types and of ways to prepare them will likely reap rewards. Innovation also represents a promising path to make big
PARADIGM SHIFTER
consumption gains. With processing and fractionation methods becoming more sophisticated, pulses are finding their way into ever-more exciting products, from pastas to condiments to desserts. Concern over long preparation times is another sticking point and the versatility of pulses and pulse products again becomes part of the solution. Consumers want convenient foods that can easily fit into busy lifestyles. This is where shorter cooking time stars like lentils get to shine and beloved classics like canned beans and hummus can seize their opportunity. For as many different ways there are to cook with and eat pulses, we need as diverse a range of outlets demonstrating their extraordinary variety. From creators and chefs to policymakers and thought leaders, everyone involved in the world of food has a role to play in tackling the final barrier to boosting consumption: image. With research showing some consumers
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Gluten-free, light pasta made with chickpeas (Shutterstock).
are reluctant to eat what they perceive as a basic or undesirable food, a global perspective shift is fundamental to create some excitement around pulses . Happily, this superfood has some pretty compelling tools in its arsenal.
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