Chickpea

Chickpea Prices Unlikely to Move Up in Few Days

Mintec Global
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INDIA: There has been a fall in chickpea prices in the spot markets across the country. According to experts, there is not much hope of the market becoming bullish for the commodity in the next few days.

Current Scenario

Indore, the demand has lessened. As a result, depreciation of $0,03 was witnessed as the sales order from the Bhopal line in the spot markets of North India, including Delhi, decreased.

Also, there have not been many import deals from abroad since the old goods were already settled, the current price of chickpeas initially increased by $0,06  to $0,07 per kg last month as soon the consumer was out in the market. But after that, since the beginning of May, there has been a price drop. Experts state that traders should not panic and sell them.

It has also been observed that after the initial fall in the last few. However, due to all-around selling by stockists of Chickpeas, the market has now come to a standstill.

In Maharashtra also, the goods are not getting below the current price. The stock in the Akola-Jalgaon line of Maharashtra is much less than last year. It is due to which the traders are selling at a reduced price.

Even the traders of Bhopal-Indore are not able to sell low-quality goods.

There is a massive shortage of subscriptions in Chickpea. Also, arrival has decreased in the spot markets of Madhya Pradesh, Karnataka, and Andhra Pradesh.

After an increase of $0,18 to $0,19 per kg last month, there has been a fall of $0,11 to $01,12 per kg. However, the market will rise again after staying a bit at these prices, as per the market experts.

Prediction

As the price has started coming out on the Bhopal-Indore line for the excellent quality goods and is expected to fetch higher. Hence, it is advised that one should buy the chickpeas at the current price and not panic and sell the goods of the stock at the current price.

The price increase can be slow but will increase again when the subscription comes out. However, experts believe the long-term results are not good because domestic and foreign goods are getting expensive in the fall.

Price Trend

42-44 (12MM)

DatePrice
May 12 – 18$1,35 per kg FOB
May 3 – 11$1,36 per kg FOB
May 2$1,37 per kg FOB