In Ukraine, pea prices have increased significantly over the past month. The main factor influencing the market is India's removal of import duties. According to predictions, the acreage under the pulses will be increased.

This was discussed on March 26 during the analytical briefing of the First Ukrainian Agricultural Cooperative (FUAC), created within the UAC.

"The pricing of Ukrainian peas is interesting. The key factor that moves the market is demand from India. At the beginning of February 2024, a ton of yellow peas conditionally cost UAH 10,000, as of March 25, purchase prices increased to UAH 13,500 per ton. Of course, there was an impact of currency fluctuations, but this factor is not decisive. The main factor is India's abolition of the import duty on peas until April 30, 2024. India is one of the largest consumers of niche crops. We can expect pea prices to rise for a few more weeks. If India closes the possibility of duty-free imports of the pulses, the price drop may occur in the second half of April. At the moment, Ukrainian producers are actively contracting yellow peas to India," was said by the analytical department of the FUAC.

As of March 22, 53,100 hectares of peas have been sown in Ukraine. According to the predictions of the Ministry of Agrarian Policy, the area under peas in 2024 will be about 160,000 hectares, which is 10,000 hectares more than last year.

The analysts mentioned that it was difficult to predict the area under spring crops, as last year the land that would be sown this year had not been used, particularly in Kharkiv region.