📈 Chickpeas Market Overview
The chickpeas market has witnessed a notable surge, primarily driven by a decrease in supply from key producing regions and heightened demand. Recent data indicates a significant price increase, with the market responding dynamically to the evolving trade landscape.
📊 Current Market Prices
📌 Key Market Drivers
- Decreased supply from India and Mexico due to adverse weather conditions and reduced harvests.
- Increased demand in domestic and international markets, particularly in regions facing shortages.
- Speculative buying by major dal mills in anticipation of further price increases.
â›… Weather Outlook for Key Growing Regions
Current forecasts indicate continued dry conditions in major chickpea producing areas in India, which may further stress crops and potentially reduce yield forecasts. Conversely, Mexico's growing regions are expected to experience normal weather conditions, which might help stabilize production levels there.
🔮 Price Forecast – Next 3 Days
- Trend: Prices expected to remain high with potential slight increases due to ongoing supply constraints.
- Resistance: $1.70/kg for larger counts in India.
- Support: $1.45/kg for smaller counts in Mexico.
- Expected Range: $1.45 - $1.70/kg
