Lentil Market Update November 2021
Unfortunately, the lentil market remains unchanged this week. Low inventory is still apparent, and despite the slow demand, shipping problems are only getting worse, which means that it has become almost impossible to transport available inventory. Due to sluggish demand, some processors were found to have too much grain from farmers to be transported to their factories nearby. Since they must ship this grain to their factories, or they may default to the growers, these processors have been liquidating their grower contracts that ended in October at prices below the market. Given that these companies have no choice, they have been offering cheap products at significantly discounted prices compared to the actual market so that they can be shipped in time. Although, this did not last, as there has already been much higher offers, enabling the processors to recover from the few low price sales these companies did last week.