China pea import MY2023-24

20 July 2023

China pea import MY2023-24

Throughout the marketing year 2022/23, spanning from July to June, China recorded a notable increase in pea imports, reaching a total of 1,785 thousand metric tons (KMT), representing a substantial 16% surge compared to the preceding marketing year, 2021/22. In the specific month of June 2023, the country's pea imports amounted to 224 KMT, with Canada contributing 172 KMT, Russia supplying 40 KMT, and the remaining portion sourced from various other countries.

China opened its doors to Russian peas in March 2023, marking the commencement of their trade relationship. The import quantities steadily increased over the subsequent months, with 3,570 metric tons received in March 2023, followed by 14,736 metric tons in April, 19,024 metric tons in May, and a substantial 39,686 metric tons received in June.

We anticipate that Russian peas will enter into competition with Canadian peas in the Chinese feed peas market, resulting in potential downward pressure on Canadian pea prices during the marketing year 2023/24.

Our expectation is that China's pea imports will rise to 2,300 KMT in the marketing year 2023/24, showing an increase from the 1,785 KMT imported during the current marketing year 2022/23.