Green and marrowfat pea prices in Great Britain remain flat, with domestic values holding a clear premium over deeply discounted Ukrainian origins. Mild, showery weather across GB supports spring fieldwork without triggering immediate supply risks, keeping nearby prices rangebound.
The pea market in GB is currently dominated by sideways price action. London FOB values for both green and marrowfat peas have been unchanged for several weeks, while Ukrainian green and yellow peas out of Odesa remain much cheaper but stable in euro terms, underpinning a wide arbitrage. With Black Sea export logistics functioning despite ongoing regional security risks, European buyers retain access to competitively priced Ukrainian pulses, capping upside for GB-origin peas. In the very short term, a mild and slightly showery 3‑day forecast for GB should aid crop establishment rather than disrupt logistics, reinforcing a steady price tone.
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📈 Prices & Spreads
Using an indicative rate of 1 GBP = 1.18 EUR, current spot pea quotations convert as follows:
| Origin | Type | Location / Term | Latest Price (EUR/kg) | Wk-on-Wk Move |
|---|---|---|---|---|
| GB | Green | London, FOB | ≈ 1.20 | Stable |
| GB | Marrowfat | London, FOB | ≈ 1.56 | Stable |
| UA | Green (98% pur.) | Odesa, FCA | ≈ 0.41 | Stable |
| UA | Yellow (98% pur.) | Odesa, FCA | ≈ 0.32 | Stable |
GB pea prices thus trade at roughly a 3–4x premium to Ukrainian origins in euro terms, reflecting quality, logistical and risk premia rather than recent price volatility. Recent international pulse coverage confirms a segmented market, with UK and EU premium types priced well above Black Sea offers but showing limited short‑term movement.
🌍 Supply, Demand & Trade Flows
On the supply side, Ukrainian agricultural exports through Black Sea and alternative routes have accelerated in March, raising the risk of larger carryover stocks across several crops, which indirectly reinforces competitive pricing for peas as exporters seek to maintain flow. While peas remain a smaller segment than grains and oilseeds, stable FCA Odesa pea prices suggest exporters are comfortable maintaining current offer levels into mid‑April.
For GB, domestic demand from food and snack industries continues to prioritise reliable, high‑spec supply, sustaining the premium over Black Sea origins. With Ukrainian authorities expecting to open pea exports to China later in 2026, forward market participants are monitoring whether Asian demand will tighten Black Sea availability, but this is not yet impacting nearby European offers. In the immediate term, EU and UK buyers benefit from ample access to competitively priced Ukrainian pulses alongside steady domestic supply.
🌦️ Weather & Crop Outlook (GB Focus)
The 3‑day outlook for London and surrounding GB growing regions points to mild spring conditions: highs around 14–16°C with a mix of sunshine, clouds and only scattered showers. This pattern is supportive for ongoing spring fieldwork and early pea crop development, providing adequate soil moisture without significant disruption to logistics or planting progress.
With no imminent frost risk or heavy rainfall events flagged for the coming days, weather is currently a neutral to slightly supportive factor for new‑crop prospects rather than a driver of nearby price volatility. Market attention will turn to May–June precipitation profiles, but those are not yet influencing short‑term pricing.
📊 Market Drivers & Risks
- Flat domestic prices: London FOB green and marrowfat peas have held unchanged in recent weeks, mirroring broader stability reported for UK premium pea segments into late March and April.
- Black Sea competition: Ukrainian pea values out of Odesa remain stable and highly competitive in euro terms, reinforced by a broader pickup in Ukrainian agri‑exports in March.
- Logistics & security risk: While the Black Sea corridor operates outside the former UN framework, ongoing regional security tensions mean freight and insurance premia remain a background risk for any sudden disruption to Ukrainian exports.
- Future demand shifts: Prospective approval of Ukrainian pea exports to China later in 2026 could gradually tighten Black Sea surplus if Chinese demand scales up, though this remains a medium‑term rather than immediate price factor.
📆 Trading Outlook (Next 1–2 Weeks)
- GB buyers: With domestic prices flat and weather supportive, short‑term procurement can remain hand‑to‑mouth, but consider modest cover ahead of any May weather volatility that could shift sentiment.
- Importers in GB/EU: Ukrainian peas continue to offer substantial cost savings versus GB origin; use current stability to lock in nearby shipments while monitoring any escalation in Black Sea security risk or freight surcharges.
- GB growers: Focus on crop management under current mild conditions; hedge decisions can be deferred until clearer signals emerge on Ukrainian export pace and any confirmed Chinese demand for Black Sea peas.
📍 3‑Day Regional Price Indication (EUR, Directional)
- GB – London FOB green peas: ≈ 1.20 EUR/kg – expected steady over the next 3 days.
- GB – London FOB marrowfat peas: ≈ 1.56 EUR/kg – expected steady, with the premium to other origins intact.
- UA – Odesa FCA green & yellow peas: ≈ 0.32–0.41 EUR/kg – expected sideways, assuming no immediate disruption to Black Sea logistics.
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