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Canada Loses Top Spot in Pea Exports
Surge in Chinese Pea Imports
In 2023, China significantly increased its pea imports, rising by 64.2% to 2.656 million tons in physical terms and by 22.22% to $1.046 billion in monetary terms compared to 2022. From January to April 2024, pea imports grew by 1.4% to 488.2 thousand tons, although the value decreased by 13.7% to $1.97 million.Russia Overtakes Canada as Leading Supplier
The Union of Grain Exporters reported that in the 2023/24 marketing year, Russia became the main supplier of peas to China, capturing a 49.1% market share with 1.13 million tons. This shift pushed Canada to second place, with its share in Chinese imports dropping to 44.7%. The USA (3.4%), Australia (1.7%), and France (1.1%) followed as minor suppliers.Key Buyers of Russian Peas
According to Rusagrotrans, China emerged as the primary buyer of Russian peas in the 2023/24 fiscal year, importing 1.13 million tons, surpassing India's 725 thousand tons. Other significant buyers included Spain (385 thousand tons), Türkiye (375 thousand tons), and Latvia (225 thousand tons).Global Export Leaders
In 2023, Russia exported 2.63 million tons of peas, making it the world's leading exporter and displacing Canada, which exported 2.54 million tons, to second place. Türkiye held the third spot with 340 thousand tons of pea exports.Ukrainian Pea Harvest and Prices
The Ukrainian Ministry of Agricultural Policy forecasts a pea harvest of 360,300 tons in 2024, down from 384,000 tons in 2023 and significantly lower than the pre-war 2021 figure of 566,300 tons. Despite this, purchase prices for peas delivered to Black Sea ports have risen to UAH 12,700-13,300/t, driven by stable demand from India.The shift in global pea export dynamics underscores the increasing competition in agricultural markets. As Russia rises to prominence as the leading supplier to China, traditional leaders like Canada face new challenges. This evolving landscape highlights the need for exporters to adapt strategies and leverage market opportunities to maintain their positions.
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