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Investor says land-grab fears not justified Bonnefield Financial has raised more than $300 million to buy and lease back Canadian farmland
Sky-high prices spark a boom in pulse production Drought in India has sent prices to record highs, but the challenge for Alberta growers is finding yellow pea and red lentil seed
By JENNIFER BLAIR
By Alexis Kienlen
AF staff
W
e’ve all heard it: rumblings in coffee shops and at conferences about land grabbers buying up good farmland. And those rumblings have only grown louder over the past few years, as investors such as the Canadian Pension Plan buy large parcels of cropland in the Prairies. But by and large, those fears can be put to rest — at least for
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AF STAFF / EDMONTON
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xpect to be hearing a lot more about pulses in 2016. And seeing a lot more of them, too — as western Canadian pulse acreage is set to soar this year. “Red lentils and yellow peas will be the leaders,” said Wes Reid, purchasing manager for WA Pulse Solutions, an Innisfailbased commodity buyer and seller. “Prices are very high, probably the highest we’ve ever seen.” In the past year, yellow peas have soared from an average price of $6.75 all the way up to $12.50 a bushel — a sharp drop even from the fall, when growers were thrilled to be getting $9.50 a bushel. Pulse acres have increased exponentially in the last five years, and are expected to grow across Western Canada, and the northern U.S., as far down as South Dakota. Turkey is also expected to grow a lot of red lentils, while Russia, Ukraine and Pakistan will be growing lots of yellow peas. Australia is planting large yellow pea and red lentil crops. “India is under the worst drought conditions that it’s seen in a long time, so it’s going to need all it can get,” said Reid.
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PROVEN FACT #13
Alberta producer Allison Ammeter (right) joined celebrity chef Michael Smith and culinary author Anita Stewart at the launch of the International Year of Pulses in Toronto earlier this month. Ammeter is the Canadian chair of the IYP as well as chair of Alberta Pulse Growers. The trio was photobombed by cookbook author Julie Van Rosendaal at the event, part of this year’s worldwide effort to promote pulse consumption. PHOTO: Courtney Hirota
offers leading midge tolerance and lodging resistance to maximize CWRS yields. PROVEN WHERE IT COUNTS — ON A FARM NEAR YOU. See for yourself at provenseed.ca