Ukrainian Pea Prices Flat in Odesa as Export Channel to China Opens

Ukrainian pea prices in Odesa remain flat at low but stable levels, with yellow and green peas unchanged week-on-week and little immediate weather or logistics risk priced in. Wide discounts versus UK-origin peas underscore Ukraine’s competitiveness, but muted export demand and strong global supply continue to cap any short‑term upside.

The pea market around Odesa is currently in a holding pattern. Farmgate and FCA offers for the 2025/26 crop have been broadly stable since late winter, reflecting comfortable on-farm stocks, subdued buying from key MENA destinations after Ramadan and increased competition from Russian and Canadian origins. At the same time, the recent opening of the Chinese market offers a medium‑term outlet that may gradually absorb surplus volumes, but it has not yet translated into visible price gains. With no acute weather threat for spring fieldwork in southern Ukraine and global pulses balances remaining ample, near‑term price risks are skewed sideways with a slight downward bias.

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📈 Prices & Spreads

FCA Odesa prices for Ukrainian dried peas are holding steady at approximately EUR 0.27/kg for yellow peas (98% purity) and EUR 0.35/kg for green peas (98% purity), unchanged from indications reported in late March and late February 2026. This confirms a flat price trend over recent weeks despite active farmer selling.

In contrast, UK-origin peas remain significantly more expensive, with green peas around EUR 1.02/kg FOB London and marrowfat peas close to EUR 1.33/kg, highlighting structural premiums linked to quality, niche food demand and logistics rather than short‑term scarcity. Broader regional benchmarks for peas in Southeast Europe are also soft, with recent regional price indices showing mild week‑on‑week declines of around 1–2%, signalling a weak but not collapsing market across neighboring countries.

🌍 Supply, Demand & Trade Flows

Ukraine enters the 2025/26 season with strong pea production capacity and sizeable exportable surpluses, but shipments have lagged historical norms due to trade frictions and competition. India’s reinstated 30% import tariff on yellow peas since late 2025 continues to limit one of the traditional demand outlets, keeping more Ukrainian volume oriented toward Europe, MENA and now Asia.

On the demand side, Europe’s structural interest in pulses as protein crops is growing, but EU pea production and imports are forecast to be broadly adequate, reinforcing a balanced to oversupplied picture for the near term. At the global level, the International Grains Council expects dry pea output in 2025/26 to rise by more than 6% year‑on‑year, driven by higher sowings in several exporting countries, adding further headwinds to price appreciation.

A key structural change for Ukraine is China’s recent decision to open its market to Ukrainian peas following sanitary audits, which creates a new high‑potential export corridor. While initial cargoes are just starting and have not yet tightened domestic balance sheets, this channel could gradually reduce carry‑over stocks and support basis levels if Chinese feed and food demand materialises as expected.

📊 Market Fundamentals & Weather

Recent market reports describe Ukrainian pea prices as under pressure, with farmers accelerating sales from on‑farm storage against a backdrop of muted export demand and still‑elevated freight and insurance costs for Black Sea shipments. However, Black Sea agri‑export logistics have stabilised compared with early war years, and current pea loadings from Odesa and other ports are flowing without major disruptions, limiting risk premiums in FCA values.

Short‑term weather conditions in southern Ukraine around Odesa are seasonally mild, with no reports of extreme cold or excessive rainfall disrupting fieldwork or early vegetative growth for spring pulses in the latest agrometeorological updates. With sowing windows open and soil conditions generally adequate, there is currently little weather‑driven incentive for traders to reprice risk into pea markets over the next few days.

📆 3‑Day Outlook & Trading Guidance

Given the combination of ample global supply, cautious external demand and stable logistics, near‑term price expectations for FCA Odesa peas are broadly sideways. Competitive pressure from Russian peas into Turkey and Asia, together with still‑soft demand in parts of MENA post‑Ramadan, caps any short‑term rallies despite Ukraine’s new access to China.

🎯 Trading Outlook (next 1–2 weeks)

• Producers (UA): Consider scaling out small volumes of yellow peas at current flat levels to manage storage and cash flow, while keeping some upside exposure in case Chinese demand accelerates later in Q2.
• Exporters/Traders: Focus on niche green pea demand and quality‑specific contracts where the EUR 0.08/kg premium over yellow peas is sustainable; hedge downside via cross‑commodity spreads with wheat or barley if needed.
• EU Buyers: Use current Ukrainian discounts versus UK and Western European origins to lock in nearby coverage, but avoid over‑committing far forward given globally ample supply and the potential for further marginal softening.

📍 3‑Day Regional Price Indication (EUR)

Region / Port	Product	Term	Current Level (EUR/kg)	3‑Day Bias
Odesa (UA)	Yellow peas, 98%	FCA	~0.27	Stable to slightly softer
Odesa (UA)	Green peas, 98%	FCA	~0.35	Stable
London (GB)	Green peas	FOB	~1.02	Stable
London (GB)	Marrowfat peas	FOB	~1.33	Stable

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