The yellow pea market just received some bad news.
India has imposed a 30 per cent duty on yellow pea imports with a bill of lading date on or after Nov. 1.
Canada is now facing trade-reducing tariffs in both of its top markets.
China imposed a 100 per cent tariff on Canadian peas in March in response to Canada’s tariffs on Chinese electric vehicles, steel and aluminum.
The trade barriers are taking a toll on yellow pea prices, which are already down 34 per cent from a year ago, according to Saskatchewan Agriculture.
Stat Publishing lists the average medium No. 1 yellow pea bid at $6.95 per bu. as of Oct.29.
There are markets for split peas in the United States and other countries, but Canada does not have a lot of processing capacity.
