1. Commodity News

Domestic Chickpeas Maintaining Stable Price Trend

Abhijeet Banerjee
Abhijeet Banerjee

Indian Chickpeas markets are maintaining more or less stable price trend currently. The upward price movement is capped mainly from the approaching arrival season in addition to the seeding pace, which is running above last year’s. Also, the inventory held by stockists seems reasonable enough to balance the consumption till the new season supply is available.

On the other hand, talks of NAFED withholding its sale tenders shall prevent chana prices to register any noticeable fall as of now. As per latest Government data as on Jan 15 2021, at 10.9 million hectares, area cultivated under chana had crossed last season’s all-time high area sown of 10.7 million hectares. The increase was because of higher area cultivated in Maharashtra and Gujarat.In last 5-7 sessions, the superior grades in Bikaner mandi have fluctuated from Rs.4450 to Rs, 4480/qtl. In Lawrence road Delhi, similar grades of Rajasthan chana traded between Rs.4625-4725/qtl for same period. Likewise in Akola, the price range of the “Chapa” Chana was between Rs.4400-4500/qtl.

Chana prices in 2020 had touched 5600 level in November month before reversing the upward trend. The trend reversed by middle of November mainly on stiff competition from cheaper vegetable prices, as vegetables are economic substitute for Chana, and sufficient inventory lying the NAFED as well as stockists, who preferred liquidating the stocks once the spot prices at key trade centres failed to sustain above 5500. Presently demand is hand to mouth from the consumption centres while arrivals are nominal. Therefore prices may follow a stable to firm trend in coming weeks.

Reviewing the overseas market developments, Global Kabuli chana markets did not observe any specific development during the week ended recently. During same period, desi chickpeas of North America were slightly firm due to regular covering by the Australian exporters in order to meet their near term  sales commitments. Meanwhile the exports of Chickpeas from Australia gathered momentum in November 2020 as compared to previous year, and net shipments had reached 74000 MT versus 40,000 MT in November 2019. 

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