Mumbai, 04 Jul (Commoditiescontrol): Strong export demand and limited arrivals drove up Kabuli chickpea prices on Thursday. Container prices also rose, particularly for large caliber varieties, due to scarcity caused by above-normal temperatures at crop maturity.
In Mumbai, imported Kabuli chickpeas from Sudan remained steady at Rs 7,000 per quintal for the old variety and Rs 7,600 per quintal for the new variety. Other varieties also held steady. However, the scarcity of large caliber Kabuli, due to adverse weather conditions, pushed prices up by Rs 200 per quintal in Indore.
Besides robust export inquiries, logistical concerns in India contributed to a sharp increase in container prices. Traders attribute part of the price hike to the removal of stock limits.
Indore markets saw significantly lower arrivals, at just 1,500 bags, as farmers are reluctant to sell at current prices, which are much lower than last season. Stronger demand in Maharashtra markets, coupled with lower arrivals, further supported prices. Jalgaon markets reported arrivals between 200 and 300 bags.
Canada's chickpea exports declined in May 8,966 metric tons (MT), down from 11,069 MT in April, according to data from Statistics Canada. This brings the total exports for the current marketing year to 174,968 MT, a 3% decrease from the previous year. In May, the United States was the largest destination for Canadian chickpeas, importing 2,300 MT. Italy followed with 1,792 MT, and Israel imported 752 MT.
North American processors and exporters are awaiting this year's seeded area estimates for Canada and the United States to confirm if growers are sticking to their original planting plans. The USDA report, due on July 28, will provide a detailed breakdown of acreage for both large and small caliber chickpeas. Initially, farmers planned to expand chickpea cultivation from 372,400 acres to 432,300 acres.
In the short term, Kabuli chickpea prices are expected to remain supported due to seller inactivity amid strong demand. Additionally, the upcoming wedding season is anticipated to keep prices stable.
Spot Raw Kabuli Chana Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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