A Silver Lining: Lower Prices Can Open Up New Markets

This is Tim Hammerich of the Ag Information Network with your Farm of the Future Report.

Consumer demand is constantly changing, and agricultural marketers have to adapt. Speaking on the Growing Pulse Crops Podcast, Marlene Boersch says market development and diversification in pulses has been critical for stronger and more stable prices for farmers.

Boersch… “ I think we sometimes forget when we talk about pulses that price points are very important, particularly when you develop new markets. And then I would say, particularly from the lentil side, when we started producing red lentils–and I must admit, when they very first came up, I thought this is such a small market and the prices are lower and so on. But obviously, you know, the red lentil market is much, much bigger now. And that has added a whole new set of markets for us on the lentil side–same with yellow peas. When we figured out that yellow peas can compete with Desi chickpeas into India, for example. Again, being competitive, being able to offer alternatives to the buyers actually, that was a major landmark. And simultaneously when we figured out that when we go into China and we can compete with yellow peas into the mung bean, which was originally a mung bean vermicelli market with yellow pea, that was a major landmark because that's all price related. So understanding those markets and discovering those possibilities along with your bias, that's what gives you the next step and the next development.”

Once again, that’s Marlene Boersch with Mercantile Consulting Venture Inc.