Pea and bean prices have improved again this week, with strong demand and tight supplies supporting markets.
Feed peas averaged almost £189/t ex-farm as Farmers Weekly went to press, with beans at about £193/t. “Pulse market demand and prices are as strong as ever, and our export competitors – such as France and Canada – have suffered from a low production year,” said a report by the Processors and Growers Research Organisation.
“Total UK bean production in 2011 was only 350,000-375,000t and peas about 135,000t and, if winter beans are down 25% again, the bean tonnage is likely to fall again unless we have an exceptional yield year in 2012. There is every sign that French acreages will also fall again – despite their subsidy reaching €137/ha this past autumn.”
Strong demand for human consumption beans had pushed prices up to more than £250/t ex-farm, although it was unclear how many good quality beans were still available in the UK, said the report.
Although UK pea supplies were ample, global stocks had dropped sharply, meaning markets would be well supported for the foreseeable future. Demand for blue peas and marrowfats was slow, but good premiums were still available, especially for 2012, it added.
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