Indian Chickpeas Find a Floor as Festive Demand and Tight Supply Support Prices
Indian chickpeas prices are rebounding on tightening arrivals and stronger festive demand. See key price levels, demand drivers, risks and short‑term outlook.
Prices & Spreads
In the Delhi and Rajasthan mandis, desi chana is reported around USD 63.19–63.45 per quintal, while Madhya Pradesh trades slightly lower at USD 62.39–62.66 per quintal. Converting with an indicative EUR/USD of 1.08, this places Delhi/Rajasthan values roughly at EUR 58.50–58.75 per 100 kg and MP at about EUR 57.80–58.10 per 100 kg.
Australian chickpeas remain steady, with June–July shipment quoted near USD 590 per tonne C&F and July–August around USD 597 per tonne, equivalent to roughly EUR 546–553 per tonne. FOB offers for Indian-origin dried chickpeas (New Delhi, 42–44 count) are indicated near USD 0.94/kg (≈ EUR 0.87/kg), while Mexican origin of similar calibre is around USD 1.18/kg (≈ EUR 1.09/kg), underscoring India’s continued export price competitiveness.
Supply & Demand Drivers
Arrivals of domestic chana in the main producing states are declining as the bulk of the rabi crop has already moved to market. Traders also underline that imported chickpea shipments are lower than last year, reducing the overhang that weighed on prices in previous months. This tightening physical balance has improved market sentiment and encouraged selective restocking.
On the demand side, dal mills and stockists are covering only limited requirements for now but are no longer waiting for deeper discounts. Looking ahead, demand for chana dal and besan typically rises with the spread of monsoon rainfall and the onset of the festival calendar from July, which should lift off-take from both household and foodservice channels.
Fundamentals & External Context
The combination of softer arrivals, lighter imports and seasonally improving demand points to a more balanced Indian chickpea market into early Q3 2026. While Australian C&F values are steady rather than bullish, the absence of aggressive external selling pressure gives domestic prices room to consolidate above recent lows.
Current export offers from India remain sharply discounted versus Mexico and many consumer markets, supporting India’s role as a key supplier to Asia and the Mediterranean. However, any abrupt policy shifts on pulse imports or changes in monsoon performance could quickly alter trade flows and domestic availability.
Weather & Monsoon Watch
Early monsoon progress over central and western India in late June is closely watched by dal mills and besan manufacturers, as broader rainfall coverage typically boosts consumption of chickpea-based staples. At this stage, no major weather shock to standing chickpea supplies is expected, but monsoon distribution will influence near-term demand elasticity and festival-related buying patterns.
Trading Outlook
- Dal mills / besan manufacturers: Consider gradual coverage for July–August needs on current dips, as downside looks limited while festive and monsoon demand builds.
- Stockists: Light-to-moderate re-stocking is justified, especially in regions where arrivals are clearly declining; avoid over-leverage until demand momentum is visible in offtake data.
- Importers / exporters: Indian-origin chickpeas remain price-competitive versus Mexico and some Asian markets; use current stable Australian C&F values and Indian FOB offers to lock in spreads where logistics and currency are favourable.
3‑Day Price Indication (Directional)
- India domestic mandis (desi chana): Slightly firm to sideways, with support on dips as arrivals ease and local buying slowly improves.
- Indian export offers (New Delhi FOB): Mostly steady in EUR terms, with minor firming possible if rupee weakens or mandi prices rise further.
- Australian C&F into South Asia: Stable within a narrow range; no sharp moves expected in the very short term.