Lentil prices to depend on India’s import needs

There are differing opinions on how many lentils India will import in 2023-24.

That elusive number will go a long way toward determining price prospects for the crop, says an exporter.

Stat Publishing is forecasting 1.13 million tonnes of imports this year, down from 1.44 million tonnes last year.

However, it noted global inventories of the crop are getting tighter.

“Markets are now questioning prospective production levels in India during its current rabi production season, noting that after a strong start, land in lentils has drifted slightly below last year,” Stat editor Brian Clancey said in a Dec. 15 article.

Lentil area was initially expected to be higher than last year, but it now appears that it may be slightly lower.

Stat is forecasting 1.5 million tonnes of production, down from 1.56 million tonnes last year.

“The country will remain fundamentally short of lentils and pulses in general,” he said.

Canada shipped 173,700 tonnes of red lentils and 24,300 tonnes of greens to India in the August to October period of 2023, up from 124,500 tonnes and 6,800 tonnes for the same period a year ago.