Indian Chickpeas: Festive Demand Holds Prices Firm Despite Profit-Taking

Chickpea (chana) prices in India have eased slightly after a sharp rally as stockists booked profits, but the market remains fundamentally tight and well-supported by ongoing festive demand and costly imports. A meaningful correction appears unlikely in the near term as domestic arrivals stay thin, imported volumes are capped, and global offer prices for Australian and Tanzanian origins remain elevated. Chickpea supply pipelines in India are still constrained despite recent profit-taking by stockists. Domestic mandi arrivals are extremely limited, while imported stocks at ports remain restricted, keeping the overall balance tight. Festive demand for chana dal and besan continues to lend solid support to spot markets. Meanwhile, Australian chickpea offers for India have risen again, reinforcing the cost floor for imports and discouraging aggressive buying. Against this backdrop, the market is expected to trade with a firm undertone, with only shallow dips likely to attract fresh mill and stockist demand.

Prices

Recent domestic price action shows only marginal easing after a strong run-up. Profit-taking by stockists has trimmed some froth, but underlying bids remain firm due to active demand from dal and besan mills and the perception of tight nearby availability. FOB indications from key origins confirm the generally bullish tone. Indian-origin chickpeas dried ex Rajkot are quoted at EUR 1.10/mt FOB (update 06 Oct 2026), up from EUR 1.00/mt on 03 Oct 2026. In New Delhi, chickpeas dried 42–44 count, 12 mm stand at EUR 1.00/mt FOB, while 44–46 count, 11 mm are at EUR 0.97/mt FOB and 46–48 count, 10 mm at EUR 0.94/mt FOB (all 03 Oct 2026). Mexican chickpeas dried 42–44 count, 12 mm are at EUR 1.23/mt FOB Mexico City, with smaller 75–80 count, 8 mm at EUR 0.88/mt FOB.

Supply & Demand

Domestic supply in India remains tight. Mandi arrivals are described as “extremely limited” and imported chickpea stocks at ports are also constrained, leaving the market heavily reliant on existing inventories and central pool holdings of around 1.95 million tonnes of chana. Stockists have recently taken some profit but are generally cautious about aggressive selling given the tight balance and supportive demand backdrop.

Festive-season consumption of chana dal and besan is a key driver behind the firm demand tone. Pulse mills continue to cover nearby needs, while end-users are sensitive to further upside but reluctant to delay procurement amid concerns about future availability. On the import side, a vessel carrying roughly 47,763 tonnes of Australian chickpeas has reached Mundra port, but flows remain limited overall. Australian chana offers for October–November shipment at Nhava Sheva have reportedly risen by about USD 25 to around USD 775/tonne CNF, with Tanzanian chickpeas quoted near USD 750/tonne CNF, underlining the high replacement cost for importers.

Fundamentals & External Drivers

The market structure is currently defined by tight spot availability, elevated import parity and a supportive demand window. Profit-taking has introduced some near-term volatility, yet domestic prices remain underpinned by the costlier Australian and Tanzanian supply and by restricted port stocks. India’s sizeable central pool of roughly 1.95 million tonnes provides theoretical buffer, but active market supplies appear far more limited, sustaining a firm undertone.

Recent external data on India’s chana market indicate persistently constrained arrivals and strong underlying demand in key consuming states, which aligns with the described tightness and suggests that any significant price correction would likely require either a policy response or a material improvement in supply prospects.

Short-Term Outlook & Trading Guidance

The near-term outlook points to a sideways-to-firm market. The scope for additional short-term profit-taking exists, especially after the recent rally, but a major downside move is considered unlikely given the confluence of festive demand, limited domestic availability and expensive imports. Dips are therefore expected to attract fresh buying from mills and stockists.

• Importers: Be cautious with large spot cover at current CNF levels for Australian and Tanzanian origins; consider staggering purchases and using any brief domestic pullbacks to improve average cost.
• Millers and domestic buyers: Use minor corrections to secure nearby and early post-festive coverage rather than waiting for a deep break that may not materialise under present fundamentals.
• Stockists: Gradual profit-taking on rallies remains prudent, but maintain core positions as long as domestic arrivals stay thin and import parity remains high.

3-Day Directional View (Key Hubs)

• India, Rajkot FOB chickpeas: Bias mildly firm to steady as exporters test higher offers against still-limited nearby availability.
• India, New Delhi FOB chickpeas (various counts): Likely to trade in a firm range; small dips may be quickly absorbed by mill buying.
• Mexico, Mexico City FOB chickpeas: Stable to slightly firm, supported by relative competitiveness versus premium Indian material and steady export interest.