Indian Chickpea Market Finds a Floor as New Crop and Imports Build Pressure

Indian chickpea prices have found a tentative floor, but abundant new-crop supply and strong imports are likely to cap any near-term recovery. For European buyers, this combination points to continued bargaining power and scope to secure more competitive EUR-denominated contracts through April–May.

Chickpea trade across India has shifted into a defensive, wait-and-see mode. Dal mills are covering only day-to-day needs while watching the pace of arrivals from Rajasthan and Madhya Pradesh, where this season’s higher sowings are translating into a larger harvest. Comfortable Australian import flows and sizeable Indian government buffer stocks further reinforce a market ceiling. For food processors and ingredient buyers, the current phase favors patient, staggered buying rather than aggressive forward coverage.

📈 Prices & Short-Term Trend

Wholesale chickpea prices in India stabilised mid-week after recent softness, with Rajasthan-origin new crop in Delhi at roughly EUR 660–663 per tonne and Madhya Pradesh-origin at around EUR 652–656 per tonne (converted from local currency). Jaipur-line product is holding close to EUR 658 per tonne, underscoring that a near-term floor has formed but with limited upside momentum.

On the import side, Australian chickpeas are quoted at about EUR 565 per tonne CnF Mumbai for May–June delivery, sitting at a discount to domestic wholesale values and reinforcing downside pressure. FOB offers for Indian dried chickpeas for export have eased over the past month: large 12 mm lots from New Delhi have slipped from around EUR 1.01/kg at end-February to about EUR 0.95/kg by 20 March, with similar 2–3% declines across 8–11 mm grades. Mexican-origin offers have followed a similar easing trend, albeit from a higher base.

🌍 Supply & Demand Balance

India’s physical market is dominated by expectations of larger new-crop arrivals from Rajasthan and Madhya Pradesh, both key chickpea-growing states. Higher sowing this season and early production estimates point to a bigger harvest than last year, encouraging mills and traders to avoid chasing the market. Old-crop desi chickpeas of good quality remain tight at producer level, but this is offset by the emerging new-crop flow.

Imports are adding an important second supply leg. A vessel carrying 36,816 tonnes of Australian chickpeas landed at Kandla port on 23 March 2026, highlighting robust import momentum and keeping port stocks comfortable. This imported pipeline mitigates the impact of any localised tightness in old stocks and reduces the urgency for processors to secure supply at higher prices.

📊 Fundamentals: Stocks, Procurement & Global Context

Government intervention is a key stabilising factor. Public procurement of chickpeas at the Minimum Support Price has already reached about 100,000 tonnes and is expected to accelerate as the harvest progresses in Madhya Pradesh and Rajasthan, with additional volumes from Karnataka, Maharashtra and Gujarat. Central buffer stocks of roughly 300,000 tonnes provide further insurance against supply shocks.

At the trade level, sentiment remains cautious. Stockists and merchants are acutely aware of the growing new-crop pipeline and ample imported supplies; few are willing to build large positions at current levels. Globally, Australia retains a dominant role in India’s chickpea import matrix and is also the world’s largest chickpea exporter, reinforcing the availability of competitively priced origin options for buyers in Europe and elsewhere.

📉 Market Drivers & Near-Term Risks

• New-crop arrivals: The pace and quality profile of arrivals from Rajasthan and Madhya Pradesh through April will be the primary driver for domestic price direction.
• Import flow continuity: Additional Australian cargoes and any new import tenders could further soften replacement costs, particularly for May–June shipment.
• Government procurement policy: Faster-than-expected buying at MSP or policy shifts on buffer stock levels could provide temporary support in interior markets, but are unlikely to reverse the broader bearish tone.
• Demand from dal mills: Mills’ current strategy of purchasing only for immediate processing is constraining any price rallies and is likely to persist while crop size and quality remain favourable.

📆 Outlook & Trading Strategy

Looking into April–May, the balance of risks still tilts mildly to the downside for chickpea prices, particularly in export-oriented segments linked to Indian supply. With both domestic production and Australian export availability in good shape, upside appears capped unless weather or policy shocks emerge. European food manufacturers and ingredient users can expect continued negotiation leverage for Indian-origin split chickpeas and chickpea flour.

• For European buyers: Prioritise staggered purchasing over the next 4–8 weeks, using any minor price rebounds to secure coverage rather than chasing spot dips aggressively.
• For traders/stockists: Maintain light inventories and avoid building long positions until more clarity emerges on final Indian crop size and the trajectory of Australian shipments.
• For processors in India: Continue just-in-time buying from mandis while monitoring government procurement pace; consider locking in imported volumes where landed values undercut domestic offers.

💶 Indicative EUR Price Picture (Next 3 Days)

Product / Origin	Location / Term	Current Indicative Price (EUR)	3-Day Bias
Desi chickpeas, new crop (Rajasthan origin)	Delhi wholesale	~660–663 €/t	Stable to slightly softer
Desi chickpeas, new crop (Madhya Pradesh origin)	Delhi wholesale	~652–656 €/t	Stable to slightly softer
Chickpeas dried, 12 mm (IN origin)	FOB New Delhi	~0.95 €/kg	Sideways with mild downside
Chickpeas dried, 12 mm (MX origin)	FOB Mexico City	~1.28 €/kg	Sideways to marginally lower
Australian chickpeas	CnF Mumbai (May–Jun)	~565 €/t	Stable, competitive vs domestic