Igc Forecasts Increase in Global Pea Production for FY2023/24

China Has Agreed on Terms for the Import of Ukrainian Peas

Mintec Global
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The Chinese authorities have agreed on a phytosanitary protocol allowing the import of peas from Ukraine.

The Ministry of Agrarian Policy, the State Consumer Service and the community have been working on this issue for 3 years. Ukrainian analysts now express the hope that farmers will be interested in increasing the sowing area and peas production. Currently, this protocol is under investigation of the State Consumer Service of Ukraine.

According to the Ministry of Agrarian Policy, in 2023 Ukraine increased pea production compared to the previous year by 48% from 269 to 399.5 thousand tons. From July to November 2023, 132.7 thousand tons of peas went for export. This is 22% more the corresponding period volumes in 2022/23.

Ukrainian agrarians keep their prices for peas at rather high level now. They remain impressed by the recent price surge caused by Indian short-term purchase. FCA basis offers are at the level of 320-330USD/T, but nobody is buying at this level already. Processors offer 10,000-10,500 UAH/T with delivery to the plant. It is obvious that the price will start to fall in the nearest future.

Prospects for the export of Ukrainian peas to China will support demand and prices.

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