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Why Traders Don’t Need to Panic About Chickpea Prices

Mintec Global
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INDORE/INDIA – Experts believe the production of chickpeas is less this year in the international market. Despite the massive rally last year for the product, the market has recently seen a slump by $0,09 – $0,10 per kg. But in the coming days, the price will stay stable, and the chances of declining rates will be minimal.

Current Scenario

Due to the decrease in production in the domestic market, the supplies are lower. But the lack of demand has moved the market down earlier. Also, the imports from other countries have started coming in, but intermittently. As a result, there won’t be much turmoil in the price. In the coming days, even if the demand increases.

Experts state that traders and farmers should profit from the increased price when it happens. However, the pulse’s arrival has decreased in the spot markets of Madhya Pradesh, Karnataka, Kerela, and Andhra Pradesh. Also, there is a scarcity of chickpeas in the Bhopal – Indore line. Due to this, the stockists in Maharashtra’s Ankola and Jalgaon regions have reduced or stopped selling the product, as the carry-over stock is significantly less than last year. The product’s current price was between $0,91 – $0,94 in Maharashtra.

There are also reports that whatever good quality products were available in the market have been already bought. Hence, no new southward trend in the price can be recorded after the earlier slump in the Maharashtra region.

In Indore, even low-quality Chickpea was not available in the spot markets. This is because even the lower quality goods are in short supply in Karnataka. The situation will thus allow the market to stay stable.

The production of Chickpea has reduced because last year, farmers and traders suffered a massive loss with their produce.

Prediction

Currently, there is not much demand for Chickpeas among the importing countries. Therefore, this year the production is low for the second consecutive year for the chickpeas.

As a result, with a limited amount of commodities, the basic domestic demand can be met, which will enable the price to stay stable for the coming days.