Global lentil demand is spiking due to the combined effects of little remaining stocks from the 2019/2020 crop year, logistical issues, and increasing demand for non-perishable food products and alternative sources of protein. The global production is forecasting at an estimated 4,317,600 MT, this would show a 500,000 ton increase, with a carry in of 557,000 MT. However due to low carryout from the 2019-20 crop, supplies will only be up 240,000 tons.
2020-21 prices are expected to remain at levels even with the current crop year and then trend upwards, setting their highs later in the new crop year. However with red lentils, even higher prices are expected in 2020-21 due to free falling carryout stocks. World stocks are estimated to drop to 277,000 tonnes next year, down from an already low 557,000 tonnes at the end of the current crop year. The prices rose from about USD 44.1 per kg in late 2019 to as high as USD 53 per kg in January 2020. The price of green lentils overall, however, remains relatively steady since 2019.
Australian Red Lentils
Australian red lentil production is suffering in the 2019/2020 season due to continuous drought and the bushfires in late 2019. The country has endured 3 consecutive years of ongoing drought that has severely affected production volumes of lentils.
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