Chickpea Prices Steady but Supported as Indian Procurement Ramps Up

Indian chickpea prices are firm but essentially range-bound, with government procurement and tight old-crop stocks providing the floor while heavy Australian arrivals cap any sustained rally.

The chickpea complex is entering a phase of balanced tension: domestic arrivals are picking up under broadly favourable weather, yet old-season stocks are thinning and state-backed buying is gathering pace. At the same time, sizeable Australian imports at Indian ports and incoming vessels into Kandla ensure that physical supply remains comfortable. Export offers from India and Mexico have eased slightly over recent weeks, reflecting this well-supplied global backdrop. Overall, the near-term picture points to stable prices with a mild upward bias if procurement in Madhya Pradesh and Rajasthan accelerates as planned.

📈 Prices & Market Tone

India’s chickpea market firmed on Friday across both kabuli and desi segments, mainly because importer selling dried up even as fresh Australian cargo was en route. Kabuli chickpeas, the larger cream-coloured type used widely in Middle Eastern and European cuisines, gained about USD 1.07–3.21 per quintal to trade around USD 65.11–69.37 per quintal.

In Delhi, Rajasthan-origin top-quality desi chickpeas held unchanged at roughly USD 60.03–60.30 per quintal, while Madhya Pradesh lots traded at USD 59.23–59.50 per quintal. New-crop Rajasthan arrivals were quoted lower, near USD 58.70–59.97 per quintal, and new Madhya Pradesh crop firmed marginally by about USD 0.27 per quintal to USD 58.17–58.44 per quintal.

📊 Export Offer Snapshot (Indicative FOB, Converted to EUR/kg)

Origin	Type / Size	Location	Latest Price (EUR/kg)	1 Week Ago (EUR/kg)	Trend
India	Chickpeas dried, 42–44 (≈12 mm)	FOB New Delhi	≈0.88	≈0.90	⬇ Slightly softer
India	Chickpeas dried, 44–46 (≈11 mm)	FOB New Delhi	≈0.85	≈0.86	⬇ Slightly softer
Mexico	Chickpeas dried, 42–44 (≈12 mm)	FOB Mexico City	≈1.19	≈1.21	⬇ Slightly softer
Mexico	Chickpeas dried, 75–80 (≈8 mm)	FOB Mexico City	≈0.75	≈0.77	⬇ Slightly softer

(Indicative EUR values derived from recent USD prices using approximate FX conversion; for orientation only.)

🌍 Supply & Demand Balance

On the import side, India remains very well supplied. From November 2025 through 19 March 2026, around 570,000 tonnes of Australian chickpeas landed at Indian ports, keeping domestic prices contained and port stocks comfortable. A further large vessel of about 36,600 tonnes is scheduled to arrive at Kandla port around 21 March 2026, reinforcing the supply ceiling.

Domestically, however, old-stock quality chickpeas are increasingly scarce in producing-state wholesale markets. This tightening in higher-quality, older inventory is a key source of price support, preventing a deeper correction despite the continuous flow of imported product and fresh new-crop arrivals.

📊 Fundamentals & Policy Drivers

Government procurement under the Minimum Support Price (MSP) program has already exceeded 100,000 tonnes and may ultimately climb toward 1 million tonnes. Major procurement activity is still ahead in Madhya Pradesh and Rajasthan, where full-scale operations have yet to start, while Karnataka, Maharashtra, and Gujarat are already active centres.

Dal mills are buying cautiously, aligning purchases closely with near-term processing needs instead of building speculative stocks. Traders are likewise not positioned for a major rally. This conservative behaviour suggests that any price strength in the coming weeks will be policy-led (through MSP buying) rather than driven by aggressive private restocking.

🌦️ Weather & New-Season Arrivals

Weather in India’s key chickpea-producing states is currently favourable, supporting the flow of new-season arrivals into wholesale markets. As more fresh crop reaches mandis in Madhya Pradesh, Rajasthan and neighbouring states over the next days, the increased availability should temper any rapid upside moves.

Given this backdrop, the market is entering a classic tug-of-war: expanding government procurement and shrinking old stocks versus robust import inflows and healthy new-crop supplies. Weather remains a watchpoint, but for now it acts to reinforce the well-supplied scenario rather than introducing additional risk.

📆 Short-Term Outlook (2–4 Weeks)

Over the next two to four weeks, chickpea prices are expected to remain largely range-bound with a modest upward bias. The downside is limited by active MSP procurement and the shortage of good-quality old stocks, particularly in producing states. On the upside, significant Australian arrivals at ports and increasing new-crop flows into the market act as a cap.

In export terms, recent EUR-denominated FOB indications from India and Mexico show a mild softening over the last month, consistent with a global market that is well supplied but not oversupplied. Unless policy buying accelerates sharply beyond current expectations or weather turns abruptly adverse, a major breakout appears unlikely in the near term.

🧭 Trading Recommendations

• Importers / End-users: Use current stable prices to secure nearby coverage, but avoid over-committing far forward given comfortable port stocks and incoming Australian cargoes.
• Producers in India: Leverage MSP procurement where available to lock in floor prices, especially for good-quality lots, while remaining flexible on additional quantities as arrivals pick up.
• Traders: Focus on short-term, range-based strategies rather than directional bets; buy dips close to MSP-supported levels and scale out into rallies capped by import parity.
• Dal mills: Continue just-in-time purchasing, but consider slightly extending coverage if local procurement in Madhya Pradesh and Rajasthan ramps up faster than anticipated.

📍 3-Day Directional View

• India (domestic wholesale, desi & kabuli): Sideways to slightly firm as markets watch for the next wave of government procurement activity.
• FOB India (kabuli export offers in EUR): Mostly steady, with a mild soft tone amid strong port stocks and adequate global supply.
• FOB Mexico (kabuli export offers in EUR): Slightly soft but stable; competitive versus Indian origin, especially in larger calibres.