Mumbai, 18 June 2024 (Commoditiescontrol):On Tuesday, Kabuli chickpea prices remained stable across major mandis and in container trade, following a period of subdued trading. Over the past two months, prices have fluctuated within a narrow range, reflecting a balanced demand and supply dynamic. Local traders attribute this price stagnation to an ample supply resulting from a bumper crop this season and subdued export activity. Meanwhile, domestic demand has been robust at lower prices, effectively matching the supply and maintaining the price stability within a narrow band.
In Indore market, prices of all count Kabuli chana remained unchanged while arrivals were down and reported to be approximately 1,500 bags. Local traders noted that both farmers and stockists are hesitant to sell their produce at the current low prices, further tightening supply.
Internationally, the farm gate prices for Kabuli chickpeas in Canada presented a mixed picture. Prices for the 9 mm variety fell by $15 per metric ton (MT), while the 10 mm variety remained stable. The current prices stand at USD 684 per MT for 9 mm and USD 715 per MT for 10 mm. This decline in the 9 mm variety is attributed to increased acreage, which has resulted in a supply glut and subsequent price drop.
Looking ahead, Kabuli prices are expected to remain stable with a slight upward bias in the short term. The upcoming wedding season, set to begin in mid-June, is likely to support price stability due to increased demand. However, lower export inquiries, particularly influenced by Mexico's record chickpea crop, may temper any significant price hikes.
Spot Kabuli chana Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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