Indian Chickpeas Ease as Monsoon Slowly Recovers and Demand Stays Firm

Indian chickpea prices in New Delhi have eased by roughly 4–7% over the past fortnight, even as physical mandi levels remain well supported by firm domestic demand and cautious trade. A sluggish but now-improving monsoon and steady Kabuli export interest are keeping downside limited. Indian Kabuli chickpea markets are entering an adjustment phase. Ex‑Delhi FCA offers for 10–12 mm counts have softened compared with early June, tracking easier sentiment in pulses after last month’s strength, while mandi prices across India still point to solid demand and no sign of distress selling. Weather risk remains a key driver: after a sharply deficient start to the 2026 southwest monsoon, models now indicate a gradual recovery in rainfall over central and northern India from around 23–25 June, which should support kharif pulse sowing. For now, buyers are negotiating harder on nearby parcels, but sellers show little urgency to liquidate.

Prices

New Delhi FCA Kabuli chickpea offers (origin India) as of 22 June 2026 have declined versus 5 June across all key sizes. Converting from USD at approx. 1.00 USD = 0.93 EUR:

Across Indian mandis, the latest national average Kabuli chana price on 19 June stood near ₹4,881/quintal (≈0.54 EUR/kg), with model prices in key Madhya Pradesh markets such as Dhamnod around ₹7,700/quintal (≈0.85 EUR/kg), confirming strong premiums for better-quality Kabuli over the all‑India average.

Supply & Demand

• Domestic demand: Government data show Bengal gram (desi chana) and Kabuli chana maintaining robust average mandi levels, suggesting healthy consumption and no sharp demand destruction despite earlier price firmness.
• Export interest: Trade and export‑oriented channels continue to highlight Kabuli chickpeas as a high-demand product in global markets, particularly for plant‑based foods, supporting India’s role as a leading supplier.
• Policy backdrop: While the latest formal procurement approvals focus on moong, urad and groundnut under the Price Support Scheme, they underline the Centre’s intent to keep pulse prices remunerative and avoid farmer distress, indirectly supportive for chickpeas.
• Stock situation: Earlier government actions on pulse stock limits (including Kabuli chana) in 2024 indicate authorities remain vigilant about hoarding and inflation; this history tempers speculative stock‑building now.

Weather & Crop Outlook (India)

After an early onset, the 2026 southwest monsoon stalled, leaving an all‑India rainfall deficit of ~40% between 1–18 June and affecting around 72% of India’s area with deficient rains. This raised concerns for kharif pulse sowing in rain‑fed central and northern regions.

However, IMD and private forecasters now signal a gradual monsoon revival from around 23–25 June, with heavy rain alerts across 23 states and improving coverage into Maharashtra, Telangana, Odisha, Jharkhand and Bihar. Near New Delhi, forecasts of thundershowers and gusty winds from 22 June should ease heat stress and support soil moisture ahead of wider sowing.

The monsoon season is still expected to be below normal under El Niño influence, so moisture stress risk later in the season remains. For chickpeas, which are largely a rabi crop, current weather mainly matters via overall pulse sentiment and farm cash flows rather than immediate crop conditions.

Fundamentals & Market Drivers

• Price correction from highs: The recent 4–9% softening in New Delhi FCA offers appears to be a technical correction from early‑June strength, rather than a structural shift, as mandi prices and export narratives still point to firm underlying demand.
• Pulse complex support: The Centre’s large‑scale procurement decisions in other pulses and its history of stock‑limit interventions signal a low tolerance for sharp downside in farm‑gate pulse prices, indirectly underpinning chickpeas.
• Weather‑linked sentiment: Early monsoon deficits weighed on market sentiment and contributed to some risk‑off behaviour. The anticipated rainfall recovery and prospects of better July rains are now tempering bearish expectations.
• Global pull: Recent analysis highlights that high‑quality, large Kabuli counts continue to find solid demand globally, with Indian origin remaining competitive against Mexican supplies, helping to cap local downside.

Trading Outlook (Next 1–2 Weeks)

• Buyers (importers & large users): Use the current dip in New Delhi FCA levels to secure partial coverage for nearby and early Q3 needs, especially in 10–12 mm counts, but stagger purchases given residual monsoon and policy uncertainty.
• Domestic traders: With mandi prices still strong and monsoon expected to revive, avoid aggressive short‑selling. Focus on quality spreads; large, clean Kabuli lots should continue to command a premium.
• Farmers & stockists: No immediate sign of a sharp downtrend; staggered sales into any post‑rain demand pickup could capture better margins, while monitoring any new government guidance on pulse stocks.

3‑Day Indicative Price Direction (EUR)

Based on current offers, mandi benchmarks and the short‑term weather outlook for North and Central India:

• New Delhi (IN, FCA, Kabuli 10–12 mm): Slightly softer to sideways over the next 3 days (‑1% to 0%) as buyers test lower bids after the recent correction.
• Central India mandis (Madhya Pradesh, Kabuli chana): Sideways to mildly firm (0 to +1%) with localized rain improving sentiment but no major supply shock expected.
• FOB New Delhi (IN, Kabuli export grades): Broadly steady in EUR terms as global demand and freight keep export parity intact, with only minor adjustments possible from FX or freight moves.