Mumbai, May 2nd (Commoditiescontrol): On the week ending May 2nd, 2023, the prices of Kabuli Chickpeas of 42-44 and 44-46 counts remained stable at the Indore benchmark market. This was attributed to the limited quantity of need-based demand from domestic and export markets and decreased arrivals.
The prices of both 42-44 count and 44-46 count varieties of Kabuli Chickpeas increased by Rs. 100 /quintal in the Indore benchmark market. Additionally, the Free on Board (FOB) prices for Kabuli Chickpeas with 42-44 and 44-46 counts rose by $10, reaching $1,540 and $1,510 per metric ton.
International Markets:
Based on the latest data from Statistics Canada, the seeded area for chickpeas in the 2023 crop was estimated to be 260,000 acres, which represents an 11% increase from last year's numbers. However, it is still below the 5-year average of 318,000 acres. Assuming an average yield, the 2023 crop is expected to produce 162,000 tonnes, which is 27% more than last year. Despite this increase, the 2023/24 season supply is still expected to be lower than the current year due to a small carryover.
As per technical chart - Kabuli Chickpea (Indore) - Correction underway / Next support at Rs 10,500.
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Trend: Trend: The prices of Kabuli Chickpeas are expected to remain range-bound, with a movement of Rs 100-200/100 kg in the coming week. This is due to need-based domestic and local exporter buying activity but in limited quantities. According to a trader based in Indore, there is unlikely to be any significant fall in price due to the absence of arrivals pressure from new crops, as harvesting has almost been completed. Moreover, there is steady export demand from Gulf nations and the sub-continent, which may help support prices.
(By Commoditiescontrol Bureau; +91-9820130172) 
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