Chickpeas Update 07.06.24

Date: 7th June 2024 Category: Latest News
Chickpeas Update 07.06.24

The combination of high prices and strong demand for kabulis has proved an enticing prospect for Russian farmers over the recent years. 2023 was a particularly good year, and 2024 could see even more growth. The recent suspension of import tariffs on Desi chickpeas by the Indian government means that kabuli chickpeas could become even more important if those stocks remain uncertain.

Russian production accounted for 528,000 MT of the global total in 2023, which is a 68% increase from 315,000 MT in 2022. Last year's production was 66% above the previous 5-year (2018-2022) average of 319,000 MT.

According to Navneet Chabra, Russian kabuli chickpeas used to typically sell between 30-40 rubles per kg, but now they go for 50-60 rubles per kg. Farmers have been getting excellent returns over the last 2-3 years due to strong currency exchanges, and this combined with a smaller amount of chickpeas available globally has led to a rise in Russian acreage. The Indian government has removed the 66% tariff on Desi chickpeas, which should prompt Australia to expand Desi production where possible. Now there is a strong rumor that the government will also allow the import of kabuli chickpeas from Russia this year to be used as a substitute for Desi chickpeas. If this rumour comes true, Russian farmers could see production reaching 700,000 MT minimum in 2024. As a country, they have the potential to reach a production of 1 million MT.

via pulse pod