Australian Chickpeas: Indian Prices Show Continued Decline

The Indian chickpea market is under pressure as large volumes of Australian chickpeas remain unsold at Mundra Port. Importers, concerned about further price declines, are offloading their stock, which has pushed prices lower. Despite the bearish trend, experts suggest prices may stabilize and recover after mid-February.

Australian chickpeas are currently priced at USD 0,73–0,74 per kg, while Rajasthani chickpeas are trading at USD 0,76–0,77 per kg at Lawrence Road. These prices have seen little interest, and further reductions of about USD 0,02–0,03 per kg could occur if selling pressure persists.

Importers Add to Market Pressure

The oversupply is largely driven by importers liquidating their stocks of Australian chickpeas. While this has created challenges for the market, traders are advised not to panic-sell their Rajasthani chickpeas. Additionally, Australia is unlikely to increase chickpea sowing in February, and domestic production in states like Madhya Pradesh, Andhra Pradesh, Karnataka, Rajasthan, and Maharashtra is lower this season.

Milling Demand and Seasonal Support

Currently, about 70% of chickpeas are being used for milling, which is expected to reduce stock levels in the coming weeks. Wedding season demand is also likely to provide short-term support to prices. Although some further dips are possible in the near term, tightening supplies may help stabilize the market later.

Domestic Production Signals Recovery Ahead

India’s chickpea production is estimated at 7.8–8 million tonnes, which falls below expected consumption levels. This shortfall could lead to a price recovery as the season progresses. However, the market may remain weak for the next 20 days, and traders should be cautious about holding large inventories during this period.

Patience Could Pay Off

Despite current challenges, traders are encouraged to focus on long-term opportunities. Lower domestic and Australian production, combined with steady demand, suggests chickpea prices could rebound in the coming months. Avoiding panic-selling and making strategic decisions may yield better results as the market stabilizes.





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