Indian Chickpeas: Firm Chana Market as Expensive Imports Meet Festive Demand

Chickpea (chana) prices in India are firming as dal mills step up buying into the festival season while private inventories and import availability remain tight. Government stocks provide a buffer, but costly Australian arrivals and limited Tanzanian supply are keeping domestic values supported rather than allowing a deeper correction. The current rally is underpinned by a rare combination of low mill stocks, steady festival demand for chana dal and besan, and constrained import options just as consumption picks up. NAFED still holds a sizeable central pool and is selling into the market, yet auction volumes and logistics are not sufficient to fully offset restricted Tanzanian inflows and expensive Australian-origin offers. Forward demand through Diwali should keep the market biased to the upside, even if short profit-taking phases periodically interrupt the trend.

Prices

Domestic quotations confirm a firmer tone. In Rajkot, chickpeas dried, origin India, FOB, have risen from EUR 0.96 on 20 September 2026 to EUR 0.97 on 22 September and EUR 1.00 on 23 September, marking a clear short-term uptrend. At New Delhi, FOB levels for larger calibres (12 mm) are steady around EUR 0.97, with 11–10 mm sizes indicated between EUR 0.94 and 0.91, while smaller counts trade slightly lower, reflecting consistent size spreads.

Mexican origins remain at a premium: chickpeas dried 42–44 count, 12 mm, origin Mexico, Mexico City FOB, are quoted at EUR 1.21, while smaller 8 mm Mexican counts are around EUR 0.85–0.83. These differentials underline India’s competitiveness on standard desi grades, even as domestic values edge higher into the festival window.

Supply & Demand

NAFED has purchased roughly 2.2 million tonnes of chana in the current rabi season and still holds about 1.95 million tonnes in the central pool. These stocks are being released into the domestic market, tempering the rally, but the pace and scale of auctions remain measured. At the same time, imported volumes at Indian ports are limited, preventing government supplies from fully normalising the balance.

Australian chana is described as expensive on a replacement basis, while Tanzanian arrivals are restricted, narrowing the range of viable import options. Domestic demand is robust: dal mills are increasing purchases from low inventory positions and strong consumption of chana dal and besan is expected to continue through Diwali, reinforcing the firm undertone despite official stock buffers.

Fundamentals

The fundamental backdrop is defined by constrained near-term availability rather than absolute scarcity. Tight mill inventories, limited portside stocks of imported chickpeas and the concentration of large volumes in government hands collectively support prices. Recent mandi data show all-India chana prices higher on the week and month, with national medians around the mid-INR 6,000s per quintal and gains of roughly 8–9% versus mid-August, confirming the constructive tone in spot markets.

Downstream, chana dal prices have eased slightly from recent highs but remain historically elevated, and besan demand is tracking seasonal patterns into the festive period. With Australian and Tanzanian offers quoted in foreign currencies at levels that still appear uncompetitive against domestic supplies, mills have limited incentives to wait for cheaper imports, instead turning first to local and NAFED-origin stocks.

Short-Term Outlook & Trading Ideas

Into the upcoming weeks, the market is likely to balance two opposing forces: profit-taking after the recent run-up versus the reality of tight private stocks and strong festival buying. The baseline scenario is for a firm to slightly higher price trend, punctuated by brief corrections when speculative longs unwind or when NAFED accelerates auctions. Any sharp downside is expected to attract renewed mill and trade buying, given the structural tightness in non-governmental hands.

• Dal mills and grinders: Consider covering a higher share of October–early November needs on dips, as imported alternatives are constrained and festival demand is imminent.
• Importers: Evaluate Australian and Tanzanian parcels cautiously; current pricing leaves limited room unless domestic values post a further sustained rise.
• Producers and stockists: Gradual selling into strength is favoured, but avoid aggressive liquidation ahead of Diwali while imports remain expensive and government auctions controlled.
• End-users/traders: Use any NAFED-induced corrections as opportunities to secure forward coverage rather than waiting for a broad trend reversal.

3-Day Directional View

• India – Rajkot FOB chickpeas dried: Bias slightly upward over the next three sessions, with potential intraday volatility from profit-taking.
• India – New Delhi FOB (bulk grades): Mostly firm, with tight nearby availability and steady mill demand cushioning any minor pullbacks.
• Mexico – Mexico City FOB kabuli-type chickpeas: Stable to firm, maintaining a premium to Indian origins amid steady global interest in larger calibres.