In the realm of agricultural exploits, the National Agricultural Cooperative Marketing Federation of India (Nafed) has scripted a tale of triumph by procuring a staggering two million tonnes (mt) of chana, better known as chickpea, at the minimum support price (MSP) during the ongoing rabi marketing season. However, as the rhythm of market arrivals slows, it appears unlikely that this year’s procurement will outshine the previous year’s feat of 2.59 MT. The prices in the last week were akin to a gentle breeze, hovering around $1450.
As the market tempo decelerates, traders forecast that the overall procurement may not surpass the remarkable figures of the previous year. This year’s chana procurement melody is expected to harmonize at approximately 2.3 mt. As of May 18, Nafed’s chana procurement has resonated at a noteworthy 2.02 mt. Leading the symphony of production in Madhya Pradesh, the largest virtuoso, contributing over 0.717 mt, followed by Maharashtra with an impressive 0.671 mt, and Gujarat joining the ensemble with 0.31 mt. The grand orchestration of procurement commenced its symphonic journey on April 1 and shall continue reverberating until the final notes in June.
Whispers in the air suggest that Nafed holds a lingering proportion of nearly 1.46 mt in carry-forward stocks. With this year’s anticipated procurement surpassing the threshold of 2.3 mt, the grand finale shall resound with a resplendent supply of over 3.7 mt, a melodious refrain accounting for approximately one-third of domestic consumption. Such sonorous stocks can prove instrumental in orchestrating the government’s grand symphony of pulse price management, especially during the forthcoming festival season.
The Agricultural Ministry’s second advance estimate eloquently projects a record-breaking opus of 13.632 mt of chickpea production for the 2022-23 season, surpassing the harmonious target of 13.5 mt. Last year, it reached a remarkable 13.54 mt, an exquisite composition reflecting the enduring growth of this vital crop.
Import/Export Statistics
Please click to reach our marketplace
The following reports may be of interest to you:
Related posts:
Over 0.248 Millions Tonnes of Chana Procured, so Far Purchases to begin from April 1 in MP, Rajasthan 
Dollar Strong Against Rupee, Import of Kabuli Chickpeas Costlier New Crop yet to arrive in March 2023 vs less stock available keeping the market high 
Chickpea Prices Unlikely to Move Up in Few Days 
Chickpea Prices in the Market Unlikely to Have Bearish Trend 
Split Chickpea Prices Are to Increase in the Long-Term 
Chickpea Prices Are Expected to Move Up Chickpea production is low by 22 percent this year 
10,000-yr-old chickpea gets a genomic leg up 
India : Chickpea Prices Are Improving As The Month Progresses