Pulse prices weaken as wheat falls

Pea and bean prices have followed the downturn in cereal markets over recent weeks, according to Processors and Growers Research Organisation figures.

Prices for both crops have typically fallen £10-15/t recently, with feed beans and peas fetching £130-135/t ex-farm in July and September new crop prices nearer £126-130/t. Micronising pea prices were £250/t in July, down to £215-220/t for September.

But while pulse prices were down, the gap between them and wheat remained stronger than usual. Soyabean prices remain the key driver of feed bean prices, encouraging feed suppliers to re-examine the benefits of locally-sourced beans, the PGRO said.

Australia was said to be in the final stages of planting with 132,000ha of beans plus 285,000ha of peas, broadly the same as 2008. Fear of in-season drought persuaded many pea growers to sow earlier than usual.

Recent pea export figures (July 2008 to June 2009) from France revealed 121,070t went to EU countries (4,145t to UK) and 87,920t outside the EU, mainly to India. Of the 189,290t of beans exported, 174,000t went into Egypt.

Prices in France are strong and old crop is sold out. France’s harvest acreages (107,000 peas and 72,000 beans) suggest a 500,000t pea crop and 375,000t bean crop this harvest.