The yellow pea market experienced a sharp surge, with prices jumping by PKR 15 per kg in a single day following the washout of a yellow pea vessel. This incident has had a significant impact on market dynamics, providing temporary relief to importer. From January to September of this year, Pakistan has already imported 122,000 metric tons of yellow peas. Had the washed-out vessel cleared it would have increased the total supply by another 14 kmt, which could have further suppressed prices in an already pressured market. The washout helped stabilize prices, giving some breathing space to importers and traders who have been facing losses due to declining market rates.
However, the market remains sensitive to upcoming imports. Another vessel, carrying 35 kmt of yellow peas, is expected to berth in the last week of November. If this shipment proceeds without disruption, it is likely to exert downward pressure on prices again, potentially counteracting the temporary relief provided by the recent washout. It seems current price rally may therefore be short-lived depending on the arrival of the next consignment.
