Chickpeas Market Firms as Indian Festive Demand Meets Tight Imports

Chickpeas prices are firming, led by Indian chana where dal mills are rebuilding low working stocks into the festival season while imported supplies remain costly and scarce. Underlying strength is intact, but large NAFED stocks and potential profit-taking after recent gains are likely to limit any sharp spike. Indian chana dominates the global chickpeas tone at the moment. Many mills are reportedly holding relatively low physical stocks and are turning to the open market, just as festival demand for chana dal and besan accelerates. At the same time, imported volumes at Indian ports are limited, Australian chana is expensive and Tanzanian availability restricted, keeping the balance tight. NAFED has absorbed a large part of the crop and is sitting on substantial stocks, which caps the upside but does not change the near-term firm bias.

Prices

Spot and export indications confirm a clear short-term uptrend in Indian-origin chickpeas. In Rajkot, India, "Chickpeas dried" (origin IN, FOB) has risen from EUR 0.96 on 20 September 2026 to EUR 0.97 on 22 September and EUR 1.00 on 23 September 2026, reflecting stronger mill buying into the festive period. New Delhi FOB levels for larger-count desi chickpeas are stable to firm, while Mexican origins trade at a premium but have shown only modest recent changes.

Supply & Demand

Domestic fundamentals in India remain the key bullish driver. Dal mills have increased purchases while many continue to operate with relatively low pipeline stocks, forcing them to buy from the open market. Imported supplies at Indian ports remain limited, with Australian chana described as expensive and Tanzanian availability restricted, narrowing viable import options and keeping the domestic balance snug.

On the other side, government intervention is substantial. NAFED is estimated to have procured around 2.2 million tonnes of chana this season and still holds roughly 1.95 million tonnes in the central pool. These stocks act as a structural cap on prices, but releases so far have been measured, allowing festival-led demand for chana dal and besan to support both spot and export markets.

Fundamentals & Weather

Beyond immediate festival buying, fundamentals remain constructive. Domestic demand for chickpeas is seasonally strong from dal mills, snack manufacturers and traditional sweets producers. At the same time, overseas supply risks linger: Australia, a key chana supplier to India, is facing a sharply smaller crop this year, and logistics from East Africa are uneven, which together underpin the firm tone in forward offers.

Weather remains an important watchpoint. Reports of deficient rainfall in parts of India’s pulse belt have raised concern about sowing and yield prospects for the upcoming rabi chickpea crop, a factor already reflected in millers’ willingness to cover forward. Should monsoon conditions improve during the critical sowing window, some of this risk premium could ease; if not, the current firmness may extend well beyond the festival season.

Market & Trading Outlook

The near-term outlook points to underlying firmness with bouts of profit-taking after recent price increases. Festival demand for chana dal and besan is expected to remain supportive, while low private stocks and constrained imports limit downside. However, the sizeable NAFED pool and the possibility of more aggressive government stock releases argue against a runaway rally.

• Importers / Food manufacturers: Consider covering short- to medium-term needs on shallow price corrections, focusing on Indian origins where physical tightness is most evident.
• Dal mills & local users: Avoid running inventories too low through the peak festival window, as renewed buying waves could quickly lift spot prices again.
• Producers / Sellers: Current levels justify steady selling, but staggered sales into possible post-festival dips may capture better averages if government stock auctions intensify.

3-Day Directional View

• India – Rajkot, Chickpeas dried, FOB: Bias mildly higher to sideways around EUR 1.00 amid ongoing mill demand and tight imports.
• India – New Delhi, desi chickpeas FOB: Stable to firm as festival demand and cautious NAFED sales offset any intraday profit-taking.
• Mexico – Mexico City, Kabuli chickpeas FOB: Largely steady, with India-led sentiment providing a firm undertone but no clear trigger for sharp moves in the next few days.