Kabuli Chickpeas and Lentils, Market Update 26
The Argentinian chickpeas market is stable, with a crop volume that is much better than the previous year.
However, weather conditions have slightly affected volumes, and the overall crop is expected to be 15-18% less than forecast. Market prices are stable, but suppliers are offering 7mm chickpeas for USD 1100+ in higher volumes.
This is due to several factors, including the Algerian government opening a tender for 10,000 MT of chickpeas, with rumors of two more tenders for 20,000 MT before the end of the year. High demand is keeping prices high, but suppliers are more confident with offers due to a good crop.
The Turkish chickpeas market has been impacted by a number of factors in 2023, including a 21% import tariff imposed in June and export restrictions on Turkish chickpeas.
The Turkish crop this year is not as good as expected, with a lower percentage of high-quality chickpeas. Russian kabulis are the cheapest on the market this year, which is driving up imports from Russia. These factors make it important to be more careful when working with the Turkish market.
Not much has changed in the Canadian market. The chickpeas volume is expected to be higher than the previous year, and suppliers are competing with Argentina to win Algerian tenders. The market is offering 7/8 mm mix sizes for 1,180-1,200 USD CFR.
The Turkish market is offering very competitive prices for red split lentils for today, but higher prices for green lentils. Prices remain to increase for RSL due to the Canadian market starting to offer at higher levels.
The demand for Canadian lentils started with strong demand, but it was affected by an explosive allegation from Canada that the Indian government may have been behind the assassination of a Sikh separatist activist in Canada.
This has triggered a huge diplomatic row and sent relations between the two countries plummeting.
This has affected the lentils market and trade between these two countries, and green lentil prices. Canada is offering USD 1100+ for red split lentils and 1300-1360 USD for green lentils.