Mumbai, April 01 (Commoditiescontrol): During the week ending on April 01, 2023, the price of Kabuli Chickpeas continued to rise, thanks to the steady demand in both domestic and export markets. Additionally, the price found support from lower arrivals at producing centres, which can be attributed to the low trader participation ahead of the financial year-end and market holidays due to festivals.
At the benchmark market in Indore, the prices of Kabuli Chickpeas for both the 42-44 count and the 44-46 count varieties increased by Rs 500 per 100 kilograms each. Similarly, the Free on Board (FOB) price for Kabuli Chickpeas with counts of 42-44 and 44-46 rose by $55, reaching $1,535 per metric ton and $1,510 per ton, respectively, which is an increase of $65.
International Update
Based on the USDA's sowing intentions, it is estimated that the chickpea growers in the United States plan to plant 340,500 acres in 2023, representing a 4% decrease from the previous year. Of this, the expected planted area for small chickpeas is estimated at 113,500 acres, a 42% increase from 2022. Conversely, the estimated planted area for large chickpeas in 2023 is 227,000 acres, indicating a 17% decrease from the previous year.
Trend:The Kabuli Chickpeas market will probably see an increase in prices for various reasons. These include a stable demand, the possibility of Algeria placing purchase orders, insufficient global and local supply, and unfavourable weather conditions affecting crop yields in certain growing regions. Furthermore, the forthcoming harvest of chickpeas in Mexico is expected to be smaller than the previous year, which will further boost prices. Nevertheless, the potential for rising prices may be restricted since the Ramzan demand might be at its last leg, and domestic farmers will be active sellers at higher prices.
(By Commoditiescontrol Bureau; +91-9820130172) 
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