Indian Chickpea FOB Values Firm as Mandi Prices Stabilise

Indian chickpea export prices are edging higher, with Rajkot FOB now at EUR 1.00 and New Delhi quotes steady to firm. Domestic mandi prices for Kabuli chana have stabilised after a sharp drop earlier in the month, suggesting downside is limited in the very short term. Indian chickpea markets are balancing weaker domestic mandi levels with firmer export offers for larger seed sizes. National Kabuli wholesale prices cluster around INR 5,500–7,500 per quintal, but high-quality lots in select mandis still fetch well above this range, supporting export parity for premium counts.

Prices

FOB offers from India have firmed over the past week. Rajkot FOB chickpeas dried (IN origin) rose from EUR 0.96 on 20 September to EUR 1.00 on 23 September, while New Delhi FOB levels for key Kabuli sizes remain stable, ranging from EUR 0.85 to EUR 0.97 depending on count and calibre.

Across Indian mandis, Kabuli chana (chickpeas-white) modal prices were around INR 5,550 per quintal on 23 September, with a wide range from near-zero to INR 12,500 across 82 reporting markets, indicating large regional quality and supply differences. Separate aggregators show median Kabuli prices between roughly INR 6,700 and INR 7,600 per quintal over 22–23 September, confirming stabilisation after a sharp fall earlier this month.

Supply & Demand

India’s domestic Kabuli market currently reflects good physical availability but tighter premium grades. National mandi data show substantial price dispersion, with some Gujarat and Madhya Pradesh markets trading at or above INR 7,800–7,900 per quintal, underlining firm demand for larger seeds suitable for export.

Official statistics indicate that total chana imports (mainly desi) in January–July 2026 fell about 45% year on year, signalling stronger reliance on domestic production and limiting downside for local prices despite recent weakness. With Kabuli a premium niche within total chickpea supply, this reduction in imports indirectly supports Indian export offers, particularly for size 42-46 counts.

Weather & Crop Context (IN)

In Rajkot, a key trading hub in Saurashtra, the local forecast calls for generally cloudy skies with light rain on 24 September, followed by mainly cloudy but dry conditions and maximum temperatures around 35–36°C through 29 September. This pattern is seasonally normal and poses no immediate risk to logistics or storage, though high humidity requires careful handling of new-crop stocks.

Chickpea in India is predominantly a rabi crop sown from October–November and harvested February–April. Current weather therefore mainly affects soil moisture recharge and preparations for the upcoming planting season rather than immediate yield prospects. With no severe weather warnings in Rajkot and surrounding areas, near-term supply to export channels should remain smooth.

Fundamentals & Market Drivers

• Domestic price reset: National mandi data show Kabuli chana prices have fallen roughly 25–30% over the last month, bringing them closer to export parity and stimulating renewed buying interest from traders.
• Premium for large calibres: Markets like Himatnagar in Gujarat report higher prices for larger "Dollar gram" lots, supporting higher FOB levels for 42-44 and 44-46 counts compared with smaller sizes.
• Import restraint: The sharp drop in overall chana imports in 2026 reduces the likelihood of heavy inflows capping prices in the short term, particularly for Kabuli.
• Seasonal positioning: With rabi sowing still a few weeks away, farmer and trader selling is moderate; most participants are watching soil moisture and policy signals rather than rushing to offload stocks.

Short-Term Outlook & Trading View

• Exporters (India, IN origin): With Rajkot FOB already at EUR 1.00 and Delhi values stable, scope for aggressive price cuts appears limited in the next few days. Consider covering nearby sales on dips towards late-September averages, while avoiding over-commitment at current highs for lower grades.
• International buyers: For Kabuli 42-46 counts, current Indian offers are competitive relative to recent domestic mandi stabilisation. Short-term pullbacks may be shallow; staggered buying over the coming week can reduce timing risk.
• Domestic traders: Given that wholesale prices have already corrected sharply but are now consolidating, a mildly bullish bias is warranted for high-quality Kabuli in Gujarat and Madhya Pradesh, especially if import flows remain subdued.

3-Day Price Indication (IN, Directional)

• Rajkot (FOB, chickpeas dried, IN origin): Prices are likely to remain in a firm to slightly higher band over the next three days, with limited downside after the recent move up to EUR 1.00.
• New Delhi (FOB Kabuli, 42-60 count range): Values are expected to stay broadly stable around current EUR 0.85–0.97 indications, with a modest upward bias for larger 42-46 counts if domestic mandi support persists.
• Indian mandis (Kabuli chana): National modal prices around INR 5,500–7,500 per quintal are likely to consolidate, with firm undertones in high-demand centres and premium for exportable lots.