Decline in pea production
One saving grace for Ukrainian pulses, has been the country’s export agreement with the European Union. Between 2018 and 2019, exports to the EU jumped from 37 to 58%. Also, exports to India improved from 11 to 15 %.
Nevertheless, Ukraine’s share of global pulse production slipped from six to four % during the same time frame.
The volume of pea exports from Ukraine during July-November 2019 amounted to 283.2 thousand tons, which is 23% less compared to the same period last year.
Experts believe that India will continue to set prices on the bean market during the next years. Only one temporary import permit raised the price of peas almost by $50 per ton.
Therefore, exporters have several options: either accept market manipulation, or invest in the processing of legumes, like we do.