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Summary
Global pulse markets have started 2026 on a firmer note, with prices rising across key varieties. Yellow peas appear to have bottomed out, while weather risks, tightening inventories, and renewed demand from India are combining to lift sentiment.
Yellow Peas Find Support
Yellow peas have emerged as the first mover in the current uptrend. Canada raised its export prices to India by $15 to $360 per tonne, signalling confidence that prices have found a floor. Russia and Ukraine, however, cut offers slightly to $340 per tonne, highlighting ongoing competition.
For shipments to China, both Russia and Canada raised prices by $5 to $310 per tonne, reflecting steady demand and improving sentiment in the market.
Chickpeas and Lentils Join the Rally
Australia raised desi chickpea prices by $20 to $520 per tonne for India. Green lentil prices were also revised higher, with Russia increasing offers by $10 to $595 per tonne and Canada raising prices by $5 to $640 per tonne.
Red lentils followed suit. Australia lifted prices by $15 to $525 per tonne for Indian buyers, while Canada raised prices by a sharper $25 to $550 per tonne, reflecting tighter availability and stronger buying interest.
Pigeon Peas and Black Matpe Move Higher
Pigeon pea prices are now ruling above $575 per tonne. Tanzania remains the cheapest supplier at this level for India, but other origins have raised prices sharply. Mozambique increased prices by $60 to $650 per tonne, Malawi by $50 to $590, and Myanmar by $50 to $790 per tonne.
Black matpe (urad) prices have also firmed. Except for Myanmar’s fair average quality produce at $790 per tonne, prices are now above $850. Superior-quality Myanmar urad was raised by $40 to $870 per tonne, while Brazil lifted prices by $45 to $940 per tonne.
What Is Driving the Uptrend
Several factors are supporting the price rise:
- Weather concerns linked to La Niña-induced dryness in North America
- Early market positioning ahead of a possible El Niño later in the year
- Poor quality of pulse inventories in India and lower kharif arrivals
- Stock-holding by growers in Canada and Australia in anticipation of higher prices
- Rising demand in India due to the festive and marriage season, leading to steady processor offtake
Conclusion
With multiple pulse prices finding support levels and demand improving, the bearish phase appears to be fading. While sharp rallies may face resistance, the market has clearly entered a firmer phase as weather risks and supply discipline begin to reshape expectations for the rest of 2026.