UK Pea Prices Ease as Domestic Offers Drift Lower, Black Sea Remains Heavy
UK pea prices soften slightly as London FOB offers edge down and cheap Black Sea peas cap upside. Analysis of supply, demand, weather and short-term outlook.
Prices
| Origin | Product | Location / Term | Latest price (EUR) | Previous price (EUR) | Direction |
|---|---|---|---|---|---|
| GB | Peas dried, marrowfat | London, FOB | 1.20 | 1.22 | ▼ modest easing |
| GB | Peas dried, green | London, FOB | 0.94 | 0.95 | ▼ modest easing |
| UA | Peas dried, yellow, 98% | Odesa, FCA | 0.16 | 0.17 | ▼ weak |
| UA | Peas dried, green, 98% | Odesa, FCA | 0.18 | 0.19 | ▼ weak |
Supply & Demand
UK feed peas are tracking a soft but orderly broader feed complex, with late-September ex-farm feed pea prices reported slightly firmer year-on-year but with recent weeks showing only marginal changes. Overall cereals in the EU were broadly steady in the week to 4 October, signalling no acute tightness that would pull peas higher in the short term.
On the export side, FOB France feed pea values this week indicate stable to slightly easier levels, confirming a calm European pulse trade. UK marrowfat peas still target premium snack and canning markets, but subdued international demand and competition from cheaper continental and Black Sea origins continue to pressure bids. Earlier industry analysis also highlighted how low-cost Eastern European peas have constrained UK marrowfat contract growth, a dynamic that remains relevant as Ukrainian offers undercut Western European levels.
Ukrainian pea export flows via Odesa and alternative Black Sea/Danube routes remain structurally challenged by security risks, yet export programs continue at reduced but steady levels, keeping a floor under local supply while prices stay heavily discounted versus UK FOB. These low-cost Ukrainian peas are a key reference for feed buyers across Europe, anchoring the market and limiting the upside for UK origin.
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Fundamentals & Weather
UK pulse fundamentals currently look balanced. Domestic feed demand is stable, and processors report adequate coverage into the nearby period, aligning with commentary that the upside demand potential is greater in beans than peas. With no major yield shock in 2026 and reasonably smooth harvest logistics, the UK pea balance sheet is comfortable, allowing buyers to negotiate small discounts.
In London and surrounding producing regions, the 3‑day outlook calls for thickening cloud, mild temperatures around 15–18°C and only intermittent light rain, after a breezy but largely dry Saturday. This pattern is non-threatening for already harvested peas and mainly affects soil moisture and drilling schedules for subsequent crops. Weather is therefore a secondary driver; currency moves and competing feed ingredients are exerting more influence on short-term pea pricing.
Trading Outlook (Next 1–2 Weeks)
- Bias: Mildly bearish for both UK marrowfat and green peas, with small further downside possible if Black Sea offers remain aggressive.
- For UK sellers: Consider scaling in sales on any small bounces, particularly for feed-quality greens, while holding back top-quality marrowfat lots for premium snack demand later in the season.
- For buyers: Nearby cover can be taken gradually; strong competition from Ukrainian and EU origins suggests limited immediate upside risk, allowing some patience on forward purchases.
3‑Day Regional Price Direction (GB Focus)
- London FOB marrowfat peas (GB): Sideways to slightly softer; modest buyer interest and no weather threat argue against a rebound.
- London FOB green peas (GB): Slight downward bias as buyers benchmark against cheaper European feed peas.
- Odesa FCA peas (UA): Prices likely to remain weak but broadly stable, with logistics and security rather than weather driving any abrupt moves.