Emerging Market Dynamics and Crop Outlook
The current market sentiment for Chickpeas exhibits remarkable bullishness. Notably, a paucity of available chickpeas has been prominently observed, propelling Chickpea prices to dip by USD 0,03 – 0,05 per kg. Despite ample production, the relentless global demand for Chickpea is inducing significant price fluctuations. The anticipated chickpea production is projected at a substantial 180 million tonnes, surpassing last year’s 150 million tonnes.
Scarcity of stock
The forthcoming Chickpea crop is expected to grace the markets during the transition from February to March. However, the scarcity of significant stock in marketing yards results in swift sales of incoming goods. The surging prices have prompted farmers to withhold their crops, contributing to limited availability. Traders in Haryana, Punjab, Jammu Kashmir, Himachal Pradesh, and other regions tread cautiously in refraining from purchases, anticipating a potential slowdown.
In Maharashtra, the price of Kabuli gram recently experienced a dip from USD 1,30 – 1,32 per kg to USD 1,25 – 1,28 per kg, merely four days ago. Earlier in May, these goods were quoted at USD 0,96 – 0,97 per kg in Maharashtra, garnering minimal buyer interest.
The stock of coarse material remains scarce, and Karnataka grapples with escalated prices due to active exports. Notably, major markets presently face supply constraints. Despite bountiful chickpea sowing, the full-scale arrival of the crop in markets encounters intermittent fluctuations due to restricted availability. A conspicuous scarcity of Kabuli Chana is evident in Kanpur, Allahabad and Lucknow Market, with Amritsar and Ludhiana Market also reporting depleted stocks.
Global Impact and Recommendations
Recent calamitous events, such as earthquakes and devastations in Türkiye, Syria, and Sudan, have severely impacted crop cultivation, including Kabuli Chana. Consequently, there have been no recent imports of chickpea goods at the international level. Canada and Australia already confront escalated prices, while Ukraine’s adverse conditions lead to a suspension in medium goods supply.
Considering the current market landscape, prudent buyers should contemplate purchases at prevailing prices while vigilantly monitoring market developments.