Chickpea Prices Are Expected to Move Up Chickpea production is low by 22 percent this year

The new crop of chickpeas has started arriving in the spot markets of Maharashtra and Madhya Pradesh. But the quality of the product is said to be of low quality. Also, the old stock is down. Amidst this, the commodity price is expected to increase in the coming days.

According to experts, several factors will be favorable for the chickpea prices in the market.

Factors Influencing The Price

• The constant unfavorable weather in the last few days has resulted in a low supply of pulses.
• The heavy rainfall and the cloudy weather during the ripening of the crop have impacted the crop quality. In addition, the yield per hectare of chickpea is also low due to the same reason.
• As a result, there has been an increase in the price by $0,03 per kg.
• According to experts, the price can further increase to $0,05 – $0,07 per kg in the coming days for the better quality of the crop.
• There have been reports of sporadic rainfall in Maharashtra and other chickpea growing areas in the last few days of February, which has impacted the standing crop and has reduced the overall yield.
• According to some farmers, a significant quantity of crops got infected due to the weather. As a result, chickpea production is low by 22 percent this year.
• Also, the harvested crops are tainted, and they are being released in the market. As a result, the prices for the excellent quality are up.
• Due to the low price that the farmers received for the commodity last October, they have moved to sow other crops.
• With the war on in Ukraine, the international market price for chickpeas has moved up. Generally, the Sudanese chickpea prices are lower than India’s, but now it has increased by $50 to $100 per ton.

Prediction 

The overall production of chickpea is expected to be between 1,4 million and 1,5 million tons. With the war on the arrival of the other chickpea-producing countries, the international market will continue to be disturbed. The global market may look to India to fulfill its demand. As a result, the price is expected to stay bullish in the coming days.

Price Trend

 42-44 (12 MM)

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