The current level of chickpeas is not likely to slow down. Farmers do not have stock of chickpeas since most of it has been in the market bought by the stockists. Earlier stockists bought chickpeas for between $0,57 and $0,60 per kg. With the warehouse handling cost, the price has gone up to $0,60 – $0,62 per kg. The current price is seen as pretty high hence stockists cannot sell the commodity at a price.
Given the price at which NAFED sells chickpeas, it is unlikely that NAFED will sell chickpeas at a lower price, and there is no need to sell chickpeas at a lower price. Currently, the quantity of chickpeas in the country is only with NAFED, and if the price of NAFED does not go down, the chickpea market will continue to get support.
The price of Indian chickpeas is at a very reasonable level as the current inflation in the international market is increasing in every country. After a long time, India has recently exported 15,000 tonnes of chickpeas to the Gulf countries. However, with the price of chickpeas rising in the local market, there is no possibility of further exports.
The government has recently imposed a five percent GST (Goods and Services) tax on the packaging of all pulses, though notification is yet to come. It will take a month or more for consumers to accept this hike. As a result, the demand for gram, gram flour, etc., will see a phase of decline. The chickpea boom may take a break during this period.
The Chickpeas 42-44 (12 mm) prices were Recorded at $1,33 per kg FOB.
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