Australian pulse prices hit 20-year lows due to record harvests and weak global demand.

Australian pulse prices have dropped to 20-year lows, with chickpeas at $600 per tonne and lentils at $620 per tonne, down from over $1,000 a year ago. Record harvests—1.7 million tonnes of lentils and 2.1 million tonnes of chickpeas—combined with weak global demand, especially from India, and increased supply from Canada and Ukraine, are driving the slump. Farmers are delaying sales, storing crops, and turning to better-priced canola for cash flow, with analysts expecting significant inventories to build before prices stabilize.