The chickpea finds itself in a quagmire, a perplexing situation marked by excessive sowing, a steady influx of domestic and foreign produce, and a lull in celebratory consumption. The price of Chickpea is poised for another dip, facing a tumble of $0,12 or €0,11 per kg in the wake of these circumstances. The scenario presents as weddings, once a bustling arena for chickpea consumption, take a monthly hiatus.
Chickpea Boom and Bust – An Anecdote of High-Sowing
The surge in chickpea prices has spurred extensive sowing, painting a promising picture for the crop. Recent rains have bestowed a lease of life upon Chickpea, fostering favorable conditions. Stockists, eager to guide this landscape, are eager to liquidate their holdings. However, the festivities remain dormant for a month, a significant driver of chickpea demand. Simultaneously, goods from various countries land at Indian ports, introducing competitive pricing to the market. The mounting pressure from green vegetables and governmental efforts to regulate pulse prices further contribute to the complex scenario.
Price Plunge In The Kabuli Gram’s Descent
| Current prices – 19.12.2023 | |
| Maharashtra | A descent from €1,52/kg. Now it is €1,40/kg |
| Karnataka | Between €1,44 – €1,48/kg |
| Indian Mexico | Between €1,66 – €1,70/kg |
In 10 days, Chickpea, once valued at $1,71 or €1,52 per kg in Maharashtra, witnessed a descent to $1,56 or €1,40 per kg, with a conspicuous absence of buyers at these levels. Karnataka’s offerings are priced between $1,61 – $1,65 or €1,44 – €1,48 per kg, contingent on quality. Indian Mexico commands a higher range between $1,86 – $1,89 or €1,66 – €1,70 per kg, with brisk sales. Traders project chickpea production to reach 2.5 – 2.6 million metric tonnes, a significant surge from the previous year’s 1.5 – 1.6 million metric tonnes. Simultaneously, international markets witness a continuous decline in black gram prices.
Market Hurdles Due To Stalled Deals and Stagnating Shipments
Large exporters are in a predicament as some deals encounter cancellations amid a December market slowdown. Chickpea shipments face delays in the Indore Bhopal line, reflecting the sluggish market pace. Despite an impending scarcity of goods, traders withhold some old stock, observing high prices, and gradually releasing it into the market.
The pulse remains dynamic as the chickpea market meanders through challenges, understanding the delicate balance between supply, demand, and external influences. The future develops with uncertainties, yet the pulse enthusiasts anticipate a shift in the chickpea narrative.