For the Quarter Ending September 2025
North America
• In the United States, the Pulses Price Index rose quarter-over-quarter in Q3 2025, driven by increased costs and robust consumer demand.
• Pulses production costs increased, with the Producer Price Index for final demand rising 2.6% year-over-year in August 2025.
• Consumer Price Index increased 3.0% year-over-year in September 2025, reflecting higher operational costs for pulse producers.
• Demand for Pulses was supported by strong consumer spending, as retail sales increased 5.42% year-over-year in September 2025.
• A low unemployment rate of 4.3% in September 2025 bolstered consumer purchasing power, supporting pulse demand.
• Industrial production showed minimal growth at 0.1% year-over-year in September 2025, indicating stable industrial demand.
• Despite declining consumer confidence to 94.2 in September 2025, pulses may benefit as an affordable food option.
• The Pulses Price Index is forecast to maintain upward pressure due to persistent cost increases and sustained consumer demand.
Why did the price of Pulses change in September 2025 in North America?
• Rising production costs, evidenced by a 2.6% increase in PPI for final demand in August 2025.
• Strong consumer demand, with retail sales up 5.42% year-over-year in September 2025.
• Higher overall inflation, as the CPI increased 3.0% year-over-year in September 2025.
Europe
• In Germany, the Pulses Price Index remained stable quarter-over-quarter in Q3 2025, influenced by mixed market signals.
• Pulses production costs decreased in September 2025, driven by a 1.7% fall in industrial producer prices.
• Industrial production declined 1.0% in September 2025, indicating reduced demand for industrial Pulses applications.
• The Consumer Price Index rose 2.4% year-over-year in September 2025, potentially eroding consumer purchasing power.
• Retail sales increased 0.2% year-over-year in September 2025, supporting stable consumer demand for Pulses.
• Germany's Manufacturing Index showed a contracting trend in Q3 2025, impacting overall industrial Pulses demand.
• Stable unemployment at 6.3% in September 2025 underpinned consistent consumer spending on food items.
• Pulses demand outlook is mixed, with stable consumer spending balancing weaker industrial activity.
• The Pulses Price Index forecast suggests stability, influenced by balanced cost reductions and demand trends.
Why did the price of Pulses change in September 2025 in Europe?
• Industrial producer prices fell 1.7% in September 2025, reducing Pulses production costs.
• Industrial production decreased 1.0% in September 2025, dampening industrial Pulses demand.
• Stable unemployment at 6.3% and 0.2% retail sales growth supported consumer Pulses demand.
APAC
• In China, the Pulses Price Index fell quarter-over-quarter in Q3 2025, influenced by deflationary pressures and weak consumer confidence.
• The Consumer Price Index (CPI) decreased by 0.3% year-over-year in September 2025, signaling weak consumer demand for Pulses.
• Producer Price Index (PPI) contracted by 2.3% year-over-year in September 2025, reflecting weak industrial demand for processed pulse products.
• The Manufacturing Index showed a contracting trend in September 2025, suggesting reduced industrial demand for Pulses as raw materials.
• Pulses demand outlook faced headwinds from a 5.2% unemployment rate in September 2025, impacting consumer purchasing power.
• Consumer confidence remained low at 89.6 in September 2025, leading to cautious spending on food items including Pulses.
• Industrial production expanded by 6.5% year-over-year in September 2025, offering some support for industrial pulse applications.
• Retail sales increased by 3.0% year-over-year in September 2025, indicating robust consumer spending on Pulses.
Why did the price of Pulses change in September 2025 in APAC?
• Deflationary pressures from a 0.3% CPI decrease in September 2025 dampened consumer demand.
• Weak industrial demand, evidenced by a 2.3% PPI contraction in September 2025, impacted pulse product prices.
• Contracting Manufacturing Index in September 2025 signaled reduced industrial activity, lowering demand for Pulses.
