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Anala Rajkot

#Chickpeas#Pulses#Specials

Aug 27, 2024

Chickpea Prices Soar Due to Festive Demand and Decreased Production

Chickpea Prices Soar Due to Festive Demand and Decreased Production

Chickpea Prices Soar Despite Government Interventions

Despite the central government's efforts to control the inflation of chickpeas, prices have continued to rise sharply. The imposition of storage limits in June aimed to curb the soaring prices. Yet the market has seen an increase instead of the anticipated decrease. The price of chickpeas has now reached $0,96 per kg in various markets.

Recent Price Trends and Market Impact

  • In Delhi, the wholesale price has increased from $0,95 to $0,96 per kg within a week.
  • Similarly, in Akola Mandi of Maharashtra, prices have reached between $0,93 to $0,96 per kg.
  • Over the past month, chickpea prices have risen by $0,11 to $0,12 per kg, marking a significant increase of $0,26 to $0,30 per kg over the past year.

Government Measures Fall Short

The central government's decision to impose storage limits on June 21 was intended to halt the rising prices. However, this intervention has not had the desired effect. Instead, prices have increased by $0,11 to $0,12 per kg since the imposition of the limit. Analysts attribute the ongoing price hike to a decrease in chickpea production this year, coupled with heightened demand during the festive season.

Festive Demand and Global Market Influence

According to the Indian Pulses and Grains Association (IPGA), the surge in chickpea prices is driven by strong demand for chickpea flour during festivals. Stockists, anticipating further price increases, are holding back sales, contributing to the price rise. Additionally, the increase in chickpea prices in Australia and Tanzania has reinforced the upward trend in the domestic market. Currently, the price of Australian chickpeas at Indian ports stands at $0,88 per kg.

Conclusion: 

The government's claim of producing 13 million tonnes of chickpeas may not align with actual production figures, which experts believe could be closer to 10 million tonnes. Given the current trends, chickpea prices are expected to remain high, with predictions that they may soon reach $0,96 per kg.
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