Lentils Prices

Lentils Prices December 2023

In Q4 2023, the price of lentils in the United States reached 0.45 USD/lb by December. Similarly, in China, the lentils prices hit 0.58 USD/lb in the same month. Canada also saw lentil prices reaching 0.67 USD/lb during December 2023.

Lentils Price Trend, Market Analysis, and News

IMARC's latest publication, “Lentils Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” presents a detailed examination of the lentils market, providing insights into both global and regional trends that are shaping prices. This report delves into the spot price of lentils at major ports and analyzes the composition of prices, including FOB and CIF terms. It also presents a detailed lentils price trend analysis by region, covering North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The factors affecting lentils pricing, such as the dynamics of supply and demand, geopolitical influences, and sector-specific developments, are thoroughly explored. This comprehensive report helps stakeholders stay informed with the latest market news, regulatory updates, and technological progress, facilitating informed strategic decision-making and forecasting.

Lentils Market Analysis

The global lentils market size reached 6.8 Million Tons in 2023. By 2032, IMARC Group expects the market to reach 9.55 Million Tons, at a projected CAGR of 3.85% during 2023-2032.

• The increasing awareness of the health benefits associated with lentils, such as high protein and fiber content, low fat, and essential nutrients, is driving consumer preference towards plant-based diets, driving the market growth.
• Besides this, the rise in vegetarianism and veganism, propelled by ethical, environmental, and health considerations, is boosting the product demand as a primary source of plant-based protein.
• Additionally, the expanding middle class in emerging economies, with greater disposable income, is fueling the demand for diverse and nutritious food options, including lentils. Thirdly,
• Government initiatives and policies promoting pulses as sustainable crops are also playing a crucial role in market expansion. These initiatives often include subsidies, research funding, and promotional campaigns highlighting the benefits of pulses.
• In line with this, the growing popularity of ethnic cuisines, particularly Indian, Middle Eastern, and Mediterranean, which prominently feature lentils, is driving consumption across various demographics. This trend is further amplified by the globalization of food culture and the increasing availability of international food products in local markets.
• Moreover, significant advancements in agricultural practices and technologies are enhancing lentil yields and quality, making them more accessible and affordable to a broader population. Improved seed varieties, pest control methods, and irrigation techniques are contributing to higher productivity and thus aiding in market expansion.
• In confluence with this, the surge in demand for organic and non-gentically modified (GMO) food products is also propelling the lentils market, as consumers increasingly prefer food that is perceived to be healthier and environmentally friendly.
• Concurrently, the increasing use of lentils in processed foods and ready-to-eat (RTE) meals is catering to the convenience-driven lifestyles of urban populations. Lentils are being incorporated into soups, snacks, and packaged meals, broadening their appeal and consumption.
• Furthermore, the robust supply chain and distribution networks ensure that lentils reach a wide range of markets efficiently. These enhanced logistics, storage facilities, and retail partnerships are facilitating market penetration.
• Apart from this, the increasing investments in lentil production and processing industries by key market players are fostering innovation and expansion. Companies are investing in research and development (R&D) to create new lentil-based products and improve processing techniques, thereby boosting market growth.

Lentils News

The report covers the latest developments, updates, and trends impacting the price of lentils, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, technological innovations, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the lentils price trend.

Latest developments in the lentils industry:

• The International Center for Agricultural Research in the Dry Areas (ICARDA) is focusing on developing drought- and heat-tolerant lentil varieties. These new strains also feature resistance to multiple diseases, improved seed size, and suitability for different cropping systems, particularly in dry regions like West Asia and North Africa. Such advancements aim to enhance yield and sustainability in challenging climates​.
• June 2024: Simpson Seeds is expanding its lentil processing plant in Moose Jaw, Saskatchewan to boost agricultural employment and enhance processing capabilities in the province by 2025. The new 7,000 square feet facility will focus on niche and specialized agricultural products like lentils, aligning with the rising demand for plant-based foods.
• February 2024: AGT Foods Africa acquired Pannar’s dry bean seed business. This addition fits their existing business model, allowing them to supply beans alongside other products like maize, rice, pasta, and lentils.

Product Description

Lentils, small, lens-shaped legumes, are a staple in various cuisines due to their nutritional value, versatility, and ease of preparation. They belong to the legume family, which includes beans, peas, and peanuts.

Lentils are one of the oldest cultivated crops, domesticated over 9,000 years ago in the Near East. They come in various types, including brown, green, red, and black lentils, each with a unique texture and flavor profile. These crops are rich in protein, dietary fiber, and essential nutrients, and are low in fat and cholesterol. They are also beneficial for those managing diabetes.

Lentils are versatile in the kitchen, cooking into soups, stews, curries, salads, or mashed into spreads and dips. They do not require soaking before cooking, reducing preparation time. These crops absorb flavors from spices and other ingredients, making them a staple in many global cuisines. They are also appreciated for their role in sustainable agriculture, improving soil fertility and requiring low water input.

Regional Coverage

The report provides a detailed analysis of the market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of FOB and CIF prices, as well as the key factors influencing the lentils price trend. 

Global Lentils Price

The report offers a holistic view of the global lentils pricing trends in the form of lentils price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price levels but also provides insights into historical price of lentils, enabling stakeholders to understand past fluctuations and their underlying causes. The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed lentils demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Lentils Price

European lentils prices are examined, highlighting the market-specific influences in the region, such as stringent environmental regulations, the competitive landscape, and import-export imbalances that significantly affect pricing structures.

Detailed price information for lentils can also be provided for an extensive list of European countries.

North America Lentils Price

The analysis of lentils prices in North America delves into the regional industry dynamics, encompassing the impact of local production and the trade flows between North America and other significant global markets.

Specific lentils historical data within the United States and Canada can also be provided.

Middle East and Africa Lentils Price

The report explores the lentils pricing trends in the Middle East and Africa, considering factors like the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

Region-wise data and information on specific countries within these regions can also be provided.

Asia Pacific Lentils Price

The lentils pricing trends in the Asia Pacific are examined, reflecting the role of the region as a major global producer and consumer of agricultural products, with price dynamics heavily influenced by supply chain efficiencies, regional demand surges, and policy shifts in major economies.

This lentils price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Lentils Price

The analysis of lentils prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, agricultural output, and trade frameworks.

This comprehensive review can be extended to include specific countries within Latin America.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of lentils pricing, covering global and regional trends, spot prices at key ports, and a breakdown of FOB and CIF prices.
• The study examines factors affecting lentils price trend, including input costs, supply-demand shifts, and geopolitical impacts, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The lentils price charts ensure our clients remain at the forefront of the industry.