Lentils market steadies as Indian green gram glut caps upside

Indian-origin green gram (moong) is anchoring pulse values this week, keeping upside in global lentil prices limited despite slightly firmer FOB offers in key export hubs. With moong trading 14–15% below India’s MSP and a record government buffer, traders see little room for a sharp lentil rally in the near term.

India’s wholesale green gram markets are remarkably stable even as structural pressure builds. Values in major centres such as Indore, Jaipur, Jalgaon, Delhi and Akola are running well under the official support floor, yet sellers are reluctant to discount further because the downside from current levels looks limited. At the same time, expanded summer sowing and favourable weather are feeding a steady flow of new-crop arrivals, reinforcing the impression of comfortable domestic pulse supplies. For European and Asian buyers, this moong surplus is a key macro signal for lentil procurement strategies in Q2.

📈 Prices & Short-Term Trend

In India, bold-quality green gram is trading broadly steady in most producing markets, with key wholesale centres holding in a narrow range that equates to roughly 14–15% below the Minimum Support Price. Traders are refraining from aggressive selling at these already-discounted levels, which has created a de facto floor across much of the pulse complex.

On the export side, lentil quotations in Canada and China show a mildly firmer to stable pattern in euro terms. Canadian FOB Ottawa dried lentils updated on 11 April stand around EUR 2.40/t for red “football” types, EUR 1.63/t for Laird green and EUR 1.54/t for Eston green, each up roughly EUR 0.02 versus early April. Chinese small green lentils, by contrast, are marginally softer week-on-week. Recent regional market reports also point to slightly higher Canadian red lentil values driven by firm export demand and cautious farmer selling, while global exporters broadly maintain competitive offers to keep flows into South Asia moving.

Origin / Type	Location	Latest price (EUR/t, FOB)	1-week change (EUR/t)	Direction
Red lentils, “football”	Canada – Ottawa	≈ 2,400	+20	Slightly firmer
Laird green lentils	Canada – Ottawa	≈ 1,630	+20	Slightly firmer
Eston green lentils	Canada – Ottawa	≈ 1,540	+20	Slightly firmer
Small green lentils (conv.)	China – Beijing	≈ 1,060	-20	Slightly softer

🌍 Supply, Demand & India’s Green Gram Overhang

The key structural feature shaping lentil sentiment is the heavy green gram balance in India. Moong is trading 14–15% below the MSP in most producing regions, yet government procurement remains limited relative to total arrivals. The central buffer already holds about 780,000 tonnes of green gram, the largest stock of any pulse in the public system, sharply curbing expectations for a bullish correction in related pulses.

Summer-season moong sowing has expanded, and benign weather suggests that fresh arrivals into producing markets will continue at a steady clip over the coming weeks. Dal mills are restricting purchases to immediate operational needs, and traders broadly advise against positioning for a sharp upswing given the record buffer and ongoing new-crop supply. This cautious domestic stance spills over into international markets, where India’s comfortable pulse situation narrows upside scenarios for imported lentils despite solid structural demand.

Beyond India, recent trade data confirm robust export activity from other key origins. Australia’s February 2026 lentil exports were well above year-ago levels, underlining strong global pull from South Asia and the Middle East. Nevertheless, India’s role as both a major importer and a processing hub for re-exported lentil products means its ample green gram and lentil availability will likely cap global price rallies in the near term.

📊 Fundamentals & Weather Outlook

Fundamentals in India’s pulse sector are distinctly heavy. The combination of a sizeable moong buffer, below-MSP spot prices and expanding summer acreage indicates that domestic availability will remain comfortable through at least late Q2. Government procurement is active but modest, and analysts emphasise that the pace of official buying relative to new-crop arrivals is the variable to watch for any shift in price direction.

Recent market reports highlight that India’s lentil (masoor) prices have stabilised after a brief soft phase, with MSP support and controlled arrivals helping to form a short-term floor. However, a steady import pipeline from Canada and Australia continues to limit upside, with global exporters keeping offers competitive in euro terms to sustain shipments into South Asia. For now, there is little indication that weather will upset this balance: summer moong conditions are generally favourable, and no major weather shock is currently flagged in key Indian growing belts.

For European spice and health-food processors that source Indian green gram as part of wider pulse portfolios, the current configuration points to continued price stability. India’s processing-hub role for lentils, together with large domestic pulse reserves, reduces the risk of sudden spikes in export offers for both whole and split products over the coming weeks.

📆 Forecast & Trading Outlook

Over the next two to four weeks, Indian green gram prices are expected to remain range-bound, broadly within the equivalent of EUR 81–90 per quintal at current exchange rates. With no immediate catalyst for a directional breakout, the broader lentil complex should also trade sideways to marginally firmer, particularly in origins where grower selling is cautious and export demand solid.

Key factors to monitor include the pace of India’s government procurement versus new summer-crop arrivals, any policy moves to offload buffer stocks into domestic welfare channels, and incremental changes in import demand from India and neighbouring South Asian markets. European and Asian buyers should assume a base case of stability with a mild upward bias in Canadian red lentils but limited scope for sharp rallies as long as India’s moong and lentil balance remains comfortable.

🧭 Strategy Notes for Market Participants

• Importers (EU & Asia): Use the current window of moong-driven stability to secure Q2 lentil coverage on a staggered basis rather than chasing spot cargoes; focus on Canadian red and green lentils where FOB values are edging up but remain fundamentally capped by Indian supply.
• Processors & packers: Align green gram and lentil procurement cycles with expected steady arrivals in India; avoid large speculative inventories given the sizeable public buffer and subdued domestic mill buying.
• Producers & exporters: In Canada and Australia, maintain disciplined selling but be prepared for modest price gains to attract additional nearby demand; a sudden rally is unlikely while India’s pulse balance stays heavy.

📍 3‑Day Regional Price Indication (Directional)

• Canada – FOB Ottawa red & green lentils: Sideways to slightly firmer in EUR terms on continued export interest.
• China – FOB Beijing small green lentils: Slightly softer to stable as regional demand remains cautious.
• India – domestic moong & lentils: Largely stable within the recent range, with MSP and buffer stocks preventing both sharp declines and strong rallies.