Earlier this month, the price of chickpeas has been between stable and firm. However, market experts predicted that the sudden surge in the cost indicates an impending slump, and it has come true. Yesterday the chickpea spot market experienced a downward trend. The price has reached the auction price reported earlier this month, around April 6, 2022.
There was good arrival of the commodity in the market. However, the purchasing activity has slowed down. Also, some traders are selling the item at a lower price due to the inflation in the market.
There is a decrease in trade activities in the market. As a result, the arrival of chickpeas in the spot market has also decreased. Therefore, traders hope that this can help increase the commodity’s price in the coming days.
However, the situation in the chickpea market is currently unpredictable. Hence, the chances of the market becoming bullish is unlikely as the pressure is expected to remain on the commodity, but the wedding season and upcoming festivals in India, in the long run, can help the market to move up a bit.
It is now a wait-and-watch game for the chickpea market.
Chickpea Price Trend
43-44 (12 mm)
| Date | Price |
| April 19 | $1,38 per kg FOB |
| April 13 | $1,41 per kg FOB |
| April 7 | $1,40 per kg FOB |
| April 6 | $1,37 per kg FOB |
| April 4 | $1,35 per kg FOB |
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