The Kabuli gram takes center stage, witnessing a transformative year marked by amplified production and an unprecedented surge in export demand. This popular chickpea variant, cherished in Indian kitchens and international cuisines, experienced a remarkable upswing in sowing, resulting in a staggering production increase of approximately 500,000 tonnes. This surge aligned seamlessly with heightened export demands, spurred by shortages in major chickpea-producing nations worldwide, catapulting Indian Kabuli gram into the limelight and sparking an all-encompassing surge in global demand.
Market Fluctuations in India
In the Maharashtra region, the price trajectory of Kabuli gram embarked on a riveting journey. From $0,99 per kg during the last Diwali, the prices experienced a dip to around $0,84 per kg with the arrival of the new crop in February-March. However, the narrative took an unexpected turn as prices dramatically reversed, soaring to $1,51 per kg following Diwali. Karnataka echoed a similar tune, with prices reaching $1,60 per kg and predictions hinting at an additional $0,18 per kg surge until the new harvest, despite a fleeting period of price reduction in Maharashtra attributed to weak demand and profit-taking.
Global Market Forces and Supply Puzzles
The Kabuli gram’s journey extends beyond Indian borders, making its mark in European countries, the USA, and the UAE. Robust demand, coupled with restricted supply, has propelled prices to new heights. Internationally, the chickpea market grapples with tight conditions due to diminished production in countries like Canada and Ukraine, exacerbating the global supply shortage. Despite India’s commendable 25% increase in chickpea production, soaring from 1.5 million to 2.0 million metric tonnes, the market feels the strain due to the substantial export share (77% of coarse Kabuli gram) and elevated international prices.
Market Horizon Amidst Supply-Demand Disparities
The current market tableau paints a vivid picture of unwavering and sustained demand, particularly in the export arena. Active engagement by exporters in regions like Indore-Bhopal is a testament to the market’s enduring strength. With the new crops still a few months away and existing stock levels dwindling, the chickpea market stands at the precipice of sustained high prices or even further ascension. The global shortage and elevated international market prices emerge as pivotal players, shaping the trajectory of this burgeoning trend in chickpeas.