BEPA Pulse Market Update
By Peter Smith, President of BEPA.
Peter Smith, President of BEPA, comments:
Summary
Pulse export trading over October has remained lively hopefully reflected in Q4 levy returns to PGRO after low collection to date.
Overall French bean production was 332,000 tonnes, 36% lower that the previous harvest. Despite this, they exported a record of 245,535 tonnes to Egypt in the July 2011 to June 2011 period.
The UK produced approximately 450,000 tonnes this autumn, but exported considerably less than the French over that period.
There is a report that French co-ops are involved in a carbon credit scheme which earns them money for growing legume crops, which can either go back to growers or be allocated for research.
Feed Beans
Not much change since September but prices have eased to around 175/tonne ex-farm. The premium for beans over wheat has narrowed recently to around 30, which is slightly more attractive to compounders – but very little has been taken up this year by this sector.
Human consumption beans
UK and French shipments have continued to go out to Egypt over October, despite some quality rejections at the port. Export beans are trading at about 30/tonne premium over feed at the moment. Sudan has been issuing import licenses for bagged beans which have also benefited UK exporters. Trading should continue through November before the Australian crop becomes available in the New Year – their crop is reported to be larger and of better quality than last year.
Marrowfats
There is still interest from Japan and China, but little trade at present. The UK canning/mushy pea trade is steady as expected at this time of year.
Blue Peas
The shortage for micronising is keeping prices up at 250/tonne+ and the micronisers are pulling some contracts forward for a change. Traders are seeking forward cover with reports of a poor Canadian crop this year.
White Peas
Inevitably, with the Canadian supplies lower this year, French exporters have done well, and their peas are coming into UK in large quantities. Anyone with UK origin white peas this year could have cashed in with prices of over 270/tonne
BEPA is the trade association representing the processors and users of British-produced pulse (dried pea and bean) crops. BEPA’s key objectives are to liaise with UK government and other national and international associations, encourage the consumption of home-produced pulses by promoting their value as healthy, high-protein and high-fibre foods, and to liaise with crop scientists and plant breeders.