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PGRO - Pulse market update, January 2016


United Kingdom
February 10, 2016

Pulse Market Update - January 2016

The pulse market is celebrating the International Year of Pulses during the 12 months of 2016.

Look out for BEPA notifications of UK and international events.

Repeating the comment of November, the market for feed beans continues to enthusiastically support the available UK crop. This is great news for the UK grower in establishing likely continuity of demand for increasing future supplies. In turn prices have seen an upturn from their recent lows. Better news all round.

International Markets
France
Effectively the French bean production is not being exported to Egypt at the present time. Quality from 2015 cannot compete in the human consumption market. Exports within Europe continue into the feed and fish feed processing markets.

Other EU
Production from Eastern Europe has proven to be of acceptable quality in the human consumption market and this source of production will become serious competition in the future, especially for the split bean market. It is thought that product is now effectively sold out and for now UK product is considered generally of better provenance. This will continue to drive the need for high quality samples from UK farms.

Egypt
Currency availability continues as the main complication in bulk export trades but UK currency weakness is assisting a drive in demand.

Sudan
Demand has been good but the window to this market is now closed.

Australia
Exports from Australia to the traditional Egyptian markets have been slowed by high prices. Currency values and demand from other markets mean they are currently circa US$100 higher than UK. Quality remains very good though perhaps with slightly reduced availability.

Domestic Market
Feed beans
Since Christmas feed beans have had plenty of takers in the domestic feed market which in turn has put upward pressure on the price as short sellers covered their positions. Prices have held at around £125/t ex. Beans are a solid source of good quality protein and offer excellent utilisation in the ration.

The current supply situation in the UK is not known for certain, but ex crop 2015 it was estimated that circa 580,000t of beans would be available to trade.

Human Consumption beans
The recent decrease in the value of Sterling has helped exporters significantly. Containerised exports are strong with increasing demand pushing up prices from recent low levels. The premium on human consumption quality samples is circa £25/t over feed values, placing the best quality grains at £150/t ex farm. Quality as always remains the key to securing goods into this market.

With increasing competition for these markets quality production will become ever more important and the cleanliness and visual appeal of the sample remains critical. The “would you eat it” test.

Combining Peas
Marrowfat peas IF 2015 is available valued at circa £250/t plus ex for good samples. Prices increasing against lack of open market availability. Values are set to hold up from crop 2016 with most merchants now effectively sold out of seed for contracts, such has been the early grower interest in this crop. Nominal values for crop 2016 circa £250-275/t ex.

Large blue peas Since the turn of the year there has been some trade interest and feeling is that now a significant carry over into the new season is less likely. Supply remains plentiful but ex farm values have risen a little lately to circa £150/t. New crop micronizing quality is circa £160/t offered but currently with little activity.

With renewed good supplies end users have taken a little time to come back after shortages but demand is rising. Poor samples as always are discounted to feed value circa £115/t ex, a discount of £10/t on feed beans.


Agronomy Notes:
Reregistration of Pirimicarb products remain approved for Pulse crops.
Changes and restrictions in use will apply.
Full details in imminent PGRO Crop update.

Winter Bean Establishment
Planning to sow winter beans in the spring?
Increase the seed rate!
Aim to establish circa 40 established plants / sq m.

New Pulse Agronomy Guide 2016
New guide available for download
Printed copies are also available

Seed Testing
Knowing the quality of the seed is critical to getting the next crop off to the best start.
Click here for details of the PGRO seed testing services.

Farm Saved Seed
BSPB
PGRO Pulse Magazine Summer 2015 p7.



More news from: PGRO - Processors & Growers Research Organization


Website: http://www.pgro.org/

Published: February 10, 2016

 


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