The Great Chickpea Mystery continues perplexing Canadian producers and exporters, leaving them in a web of uncertainty. For months, they’ve been on tenterhooks, eagerly awaiting the revelation held within the StatsCan report, shedding light on chickpea production and stock levels. While the clouds of ambiguity have not entirely lifted, one thing seems increasingly inevitable: Canada’s previous stash of chickpeas was meager, and inclement weather further thwarted production expectations. Consequently, the supply and availability of this beloved legume are set to traverse complex terrain. Some growers are eager to offload their chickpeas, while others are biding their time for the stars to align.
A ray of hope lies on the horizon, promising more reliable data on chickpeas when StatsCan releases its report in December, coinciding with a substantial chunk of stock trading hands. There’s an uptick in chickpea exports from both the Great White North and the United States, although it’s imperative to note that the size of chickpea grains in these two countries is a subtlety yet to garner much attention. Signs indicate that chickpea imports from Canada into the United States might witness a dip. This can be attributed to a twofold development: an amelioration in U.S. production and a call to augment imports of more extensive grain commodities from Mexico.
The situation gets more intricate as it unfolds, with Canada needing more substantial stocks of high-quality chickpeas. Old crop chickpea prices in Canada, earmarked for December/January movement, currently hovering around 54 cents per pound, translating to roughly 40 U.S. cents per pound. This includes an overabundance of chickpeas with a 7 mm grain size, estimated to account for 15-20 percent of the mix. Notably, the advanced contracting process for the purchase and sale of Kabuli gram, to be harvested in the forthcoming 2023-24 season, remains in a state of dormancy.
As the Canadian chickpea saga continues to unfold, the market’s delicate dance with uncertainty and shifting cross-border dynamics could bring both challenges and opportunities. Staying vigilant and adaptable in this enigmatic trade landscape is paramount for success.
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