UK Pea Prices Ease as Black Sea Offers Cap Upside
Concise update on UK and Black Sea dried pea prices, key supply-demand drivers, GB weather backdrop and short-term trading outlook for green, marrowfat and yellow peas.
Prices
UK and Black Sea pea prices show a soft to stable pattern. London FOB quotations for UK-origin dried peas have eased compared with early October, while FCA Odesa levels are unchanged at already low numbers, reinforcing a bearish bias in European import parity. Recent UK farm commentary also indicates only modest strength in late-September ex‑farm feed pea prices, suggesting limited follow‑through on the upside into mid-October.
| Product | Origin | Location / Term | Latest price (EUR/kg) | 1-week change (EUR/kg) |
|---|---|---|---|---|
| Dried peas, green | GB | London, FOB | 0.92 | -0.02 |
| Dried peas, marrowfat | GB | London, FOB | 1.18 | -0.02 |
| Dried peas, yellow (98% purity) | UA | Odesa, FCA | 0.16 | 0.00 |
| Dried peas, green (98% purity) | UA | Odesa, FCA | 0.18 | 0.00 |
Softness in London reflects both limited nearby consumer urgency and the weight of aggressive Black Sea offers, with FCA Odesa peas trading at a steep discount to UK-origin material. Recent UK ex‑farm commentary confirms that feed peas have only edged higher since late September, while broader feed ingredients have been relatively subdued, capping any attempt for peas to decouple sharply to the upside.
Supply & Demand
On the supply side, the UK pea crop for 2026 is reported to be significantly below target, with harvested volumes estimated at around two‑thirds of intended area due to weather and agronomic challenges. Nonetheless, current spot availability is adequate, as many growers forward‑sold under contracts and end users retain some coverage. Trade focus remains on execution and quality selection rather than scarcity.
Globally, Ukraine continues to act as a key exporter of dry peas, ranking among the largest shippers worldwide and maintaining active export programs despite ongoing regional risks. Solid early‑season Canadian pea exports and competitive internal prices add to the pool of exportable supply, especially into China and South Asia. In the UK feed complex, pulses compete with wheat and barley; recent data show feed peas holding a modest premium but without strong momentum, limiting buyers’ urgency to extend cover.
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Weather & Crop Conditions (GB)
Weather in key UK pea regions such as eastern England and Norfolk is currently cool and showery, with scattered showers today and more widespread rain and wind expected into mid‑week. Localised forecasts around intensive arable zones in Norfolk point to patchy rain and breezy conditions, with temperatures in the low to mid‑teens Celsius over the next few days.
Given that the 2026 pea harvest is effectively complete, this unsettled pattern has little direct impact on the current crop. Its main relevance is to fieldwork and winter drilling decisions, where some growers may lean towards beans over peas for 2027 due to contract availability and perceived demand, potentially tightening medium‑term pea acreage if the pattern persists.
Fundamentals & Market Drivers
Structurally, peas benefit from policy and market attention on domestic protein sources and reduced reliance on imported soya, which underpins long‑term demand in both feed and food sectors. However, short‑term fundamentals are more balanced. EU anti‑dumping duties on Chinese pea protein have shifted some attention towards whole and fractionated peas, but this has not yet translated into a pronounced spot price surge for raw peas.
The key bearish driver remains competitive Black Sea supply, with Ukrainian yellow and green peas offered at low FCA values and ample logistics capacity via Odesa and alternative corridors. At the same time, UK feed and micronising buyers are sensitive to overall ration costs and can switch between peas, beans and cereals, particularly with organic and conventional cereal markets broadly stable. As a result, pea prices are trading more as a follower of the wider feed complex than as a standalone bullish story.
Trading Outlook (Next 1–2 Weeks)
- For UK growers: Current London FOB levels for green and marrowfat peas are slightly softer than a week ago, and further downside cannot be ruled out if Black Sea offers stay aggressive. Consider selling remaining unpriced 2026 crop parcels on small rallies, particularly for off‑spec lots, while retaining flexibility on top-quality material.
- For UK buyers: With FCA Odesa peas steady at low levels and no immediate supply shock, holding a hand‑to‑mouth strategy on nearby needs still looks reasonable. Use any temporary freight or logistics disruptions from the Black Sea as an opportunity to secure forward coverage before offers tighten.
- For importers in Europe: The pronounced discount of Ukrainian peas versus UK‑origin continues to favour Black Sea sourcing for bulk feed uses. However, maintaining some diversification into UK and other European origins is advisable in case of renewed geopolitical or shipping risk.
3‑Day Directional Outlook (GB & Black Sea)
- London (FOB, UK dried peas): Sideways to mildly weaker. Buyer resistance to higher offers and ample alternative feed options suggest limited upside through the next three sessions.
- Odesa (FCA, UA dried peas): Largely stable. Competitive export pricing and ongoing shipment programs point to a steady tone unless logistics are suddenly disrupted.
- Basis UK vs Black Sea: UK premiums over Ukrainian origin likely to persist, but with a slight risk of narrowing if London FOB values adjust further downward while FCA Odesa remains flat.