The global chickpeas market is entering a period of heightened volatility, defined by sustained price increases and persistent supply-side concerns. In India, the leading producer and consumer of chickpeas, a combination of lower rabi (winter crop) sowings, poor yield due to adverse weather, and limited imports from Australia are collectively tightening market availability. Bulk procurement by Rajasthan’s major processors and steady retailer stockpiling have further amplified the uptrend. Traders report that prices have recently risen by $6 per quintal, touching $84 and hinting at further potential gains if buying pressure remains robust. Notably, the depletion of old stocks, combined with the expectation of monthly imports averaging just 45,000–50,000 tonnes until March 2026, skews market sentiment towards the bullish side.
With global export flows from Australia constrained and government procurement activity limited, private sector buyers are dominating the landscape. Demand from both branded processors and consumers remains firm, despite higher prices. The strong undertone is additionally supported by tight stocks, higher chickpea husk prices, and slow arrivals in primary markets. Market participants believe that unless there is unexpected improvement in weather or an uptick in imports, the upward price trajectory could persist, particularly through the next quarter. This tight supply scenario is mirrored in physical market prices: premium-quality chickpeas now fetch up to $88–$89 per quintal while mill-quality lots trade near $77.
In Europe and international trade, export-grade Mexican and Indian chickpeas are also holding steady, with FOB prices reflecting the tightening conditions. As weather instability continues to threaten key growing areas, and with firm demand across wholesale and processing channels, the current bull market in chickpeas shows little sign of abating in the near term.
Exclusive Offers on CMBroker
Chickpeas dried
count 42-44, 12 mm
FOB 1.74 €/kg
(from MX)
Chickpeas dried
count 75-80, 8 mm
FOB 1.23 €/kg
(from MX)
Chickpeas dried
count 60-62, 8 mm
FOB 1.29 €/kg
(from IN)
📈 Prices: Latest Chickpeas Market Snapshot
| Origin | Type/Count | Size (mm) | Location | Delivery | Price (EUR/t) | Weekly Change | Market Sentiment |
|---|---|---|---|---|---|---|---|
| Mexico | Chickpeas dried | 42-44 / 12 | Mexico City | FOB | 1.74 | 0.00 | Firm |
| Mexico | Chickpeas dried | 75-80 / 8 | Mexico City | FOB | 1.23 | 0.00 | Firm |
| India | Chickpeas dried | 60-62 / 8 | New Delhi | FOB | 1.29 | 0.00 | Firm |
| India | Chickpeas dried | 58-60 / 9 | New Delhi | FOB | 1.30 | 0.00 | Firm |
| India | Chickpeas dried | 46-48 / 10 | New Delhi | FOB | 1.34 | 0.00 | Firm |
| India | Chickpeas dried | 44-46 / 11 | New Delhi | FOB | 1.36 | 0.00 | Firm |
| India | Chickpeas dried | 42-44 / 12 | New Delhi | FOB | 1.35 | 0.00 | Firm |
🌍 Supply & Demand Drivers
- Lower Indian output: Down on poor rabi crop yields and reduced acreage due to adverse weather.
- Limited Australian exports: Causes higher import prices—affecting both Indian and global buyers.
- Stock tightness: Private buyers and processors holding back supplies, anticipating further price gains.
- Government procurement: Currently limited, leaving market more exposed to private-sector dynamics.
- Firm consumer demand: Sustained through retail, wholesale, and processing segments.
📊 Fundamentals: Market Comparisons & Inventory
| Country | 2024E Production (mt) | 2023 Stocks (mt) | Import Requirement (mt) | Key Notes |
|---|---|---|---|---|
| India | ~11.3 mln | Low | ~500,000 | Crop shortfall, high domestic prices |
| Australia | 0.43 mln | Moderate | — | Tight export supplies |
| Mexico | 0.18 mln | Stable | — | Steady exports |
| EU | 0.38 mln | Stable | — | Import-dependent |
| Others | 1.25 mln | — | — | Minor producers |
🌦️ Weather Outlook & Impact
- India: Central and western regions, notably Rajasthan and Madhya Pradesh, are seeing below-normal precipitation. Continued dry spells or heatwaves may further dent yield prospects, sustaining tight market conditions in coming weeks.
- Australia: Steady weather, but recent cooler temperatures and patchy rainfall may slow crop development; no improvement in near-term exportable surplus expected.
- Mexico: Favorable weather aiding steady supply, but exportable quantities remain limited by prior season deficits.
🚦 Trading Outlook & Recommendations
- Bullish trend expected to hold through Q3 unless India receives major weather reprieve or Australia releases additional export volumes.
- Bulk buyers and processors should consider forward coverage to hedge against further upside risk.
- Stockists may hold inventory for incremental booking—watching regional weather and government procurement updates closely.
- Importers should anticipate higher landed costs and monitor Australian and Mexican availability for short-term gaps.
- Watch for speculative activity increases as market tightness persists.
📆 3-Day Regional Price Forecast
| Exchange/Origin | Current Price (EUR/t) | Forecast (Next 3 Days) | Sentiment |
|---|---|---|---|
| India, New Delhi (FOB) | 1.29–1.36 | Stable to Firm, +1–2% | Bullish |
| Mexico, Mexico City (FOB) | 1.23–1.74 | Stable, tight supply keeps upside risk | Bullish |
| Australia (FOB)* | 1.42–1.76* | Limited availability, upside bias | Firm |
*Estimated from parallel markets; direct quotes limited due to export constraints