Chickpeas Update 16.02.24

Date: 16th February 2024 Category: Latest News
Chickpeas Update 16.02.24


The chickpea market exhibits firmness and stability, marked by limited supplies and notably high prices for 'large' chickpeas, mainly attributed to the modest 2023 Mexican harvest. This trend is propelling prices upward across all chickpea varieties. For medium and small-sized chickpeas, European buyers are turning to Canada to sidestep Russian chickpeas.


Internally estimated at around 17-18KT, the French harvest faced callenges this year regarding quality, characterised by numerous stained grains and a notable breakage rate. Nonetheless, prospects for the upcoming planting appear promising doe to the favourable chickpea prices compared to cereals. Moreover, the excessive rainy weather in November/December hindered the sowing of alternative crops which may potentially render certified seed availability a limiting factor.


The 2023 US harvest, totalling approximately 224KT, surged nearly 35% compared to the previous year but was predominantly absorbed locally due to increased consumption for both human and animal food. Canada emerges as the preferred source for purchasers seeking chickpeas larger than 7mm, boasting minimal pesticide risks. Becoming one of the leading global chickpea exporters alongside Australia and India, Canada contributes over 15% of global exports, with an annual production of 142KT, predominantly in the  Saskatchewan province.


The Argentine harvest is nearly fully sold at levels relatively akin to Canada, though European buyers find this source less appealing due to heightened pesticide contamination risks. Algeria, which is Argentina's primary market, favours this source.


India anticipates a favourable chickpea harvest in 2024, albeit last year's experience has left observers skeptical. The quality and quantity will be determined will only be determined closer to the harvest in late February/March. Mexico's harvest is expected to be delayed, with current forecasts cautiously optimistic, projecting a harvest aligning more closely with typical expectations, ranging betweeon140 and 150KT.

via Ciacam