THE BIG PICTURE
THE BIG PICTURE
peas will play a factor, explaining that "yellow pea imports into Pakistan are at an all-time high, so there will also be some substitution.” Industry sources suggest monthly yellow pea consumption in Pakistan has risen from 10-12 KMT to 18 KMT this year. Substitution of yellow peas is also a factor in India, according to Deepak Pareek, who explained that chana mills have likely seen “some switch over to yellow peas” when providing for the hospitality sector. Combined with low milling returns and strong supply, this has created a price spiral in desis , says Will Watchorn: "Indian millers have gone to trading on a hand- to-mouth basis because the market is trading at an inverse – i.e. spot has become more expensive than deferred. To me, this is symptomatic of an Australian crop that has surprised all of us. "We've had this increase of supply of
Central India and the Monsoon core zone, key areas for pulses farming, were challenged this year by excess rainfall (Shutterstock).
Made with FlippingBook - Online magazine maker