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Market Report on Chick Peas

Chick Peas
India is the world’s largest producer of Kabuli Chickpea , Chickpeas, also known as garbanzo beans are renowned for their delicious nut like taste and high protein content.

THE NEW CROP OF KABULI TYPE CHICK PEAS ( MEXICAN ) WAS ALL SET TO BE GOOD, DURING GULF FOOD EXIBITION HELD IN DUBAI. THERE WAS VERY LITTLE MOVEMENT AND DEMAND FOR INDIAN KABULI CHICK PEAS NEW CROP, AS MEXICO NEW CROP WAS HEARD TO BE TRADED AT USD 1050/- LEVELS FOR MARCH / APRIL SHIPMENTS, TO MERSIN PORT- TURKEY.

INDIAN KABULI CHICK PEAS WAS THEN OFFRED AT LEVELS OF USD 950- 970 LEVELS FOR LEVELS FOR MARCH / SHIPMENTS, TO MERSIN PORT- TURKEY.

EVERY ONE WAS ASSUMING INDIAN CHICK PEAS PRICES TO COME DOWN. AFTER EXIBITION TO LEVELS OF USD 900 OR UNDER, FOR MERSIN PORT, DUE TO LACK OF DEMAND,

IN PREVIOUS YEARS NORMALLY DURING THESE TIME, INDIAN EXPORTERS WOULD HAVE BEING COMFORTABELY TRADED OVER SAY 25000 MTS OF KABULI CHICK PEAS FOR NEW CROP MARCH – APRIL SHIPMENT, BUT THESE YEAR, IT WAS A UNUSUAL SITUATION, IT WAS HEARD , THAT ALL THE MAJOR BUYING DESTINATION LIKE TURKEY, ALGERIA,. EUROPE, MIDDLE EAST WERE WELL COVERED WITH OLD STOCKS, SO DEMAND WILL BE SLOW TILL APRIL .

DUE THESE FACTORS THE ACTIVITY WAS VERY SLOW DURING FIRST TWO DAYS GULF FOOD EXIBITION,

BUT DUE TO SOME UN EXPECTED WEATEHR CHANGE IN INDIA, ESPECIALLY IN PRODUCE CENTER OF CHICK PEAS . FROM LAST WEDNESDAY TO FRIDAY, IT WAS RAINS ALL OVER . WITH BIG ICE BALLS, MAKING A SUBSTANTIAL DAMAGE TO THE CROP, AND SUDDENLY MARKETS BECOME ACTIVE,

IT IS ESTIMATED THE TOTAL CROP TO BE UNDER 380000 MTS COMAPRED TO 700000 MTS OF LAST YEAR APPROX. WITH BIG QUALITY PROBLEM OF RAIN DAMAGE AND STAINED GRAINS , THERE IS REPORTED A HEAVY LOSS TO THE STANDING CROP, AND HOPE FOR GOOD EXPORTS YEAR IN TERMS OF QUALITY AND QUANTITY PF CHICK PEAS IS KNOW LOOKING A DREAM

SINCE LAST WEEK END, MARKETS ARE VERY FIRM AND INDIAN EXPORTERS OF CHICK PEAS ARE ACTIVE COLLECTING THE LOACAL CROP & ALSO TURNED THERE INTEREST TO NEW CROP OF MEXICO CHICK PEAS FOR INDIAN PORTS, AND HAD TRADED AT LEVELS OF USD 1100/- CNF NAVA SHEVA PORT, FOR MARCH – APRIL SHIPMENTS

ALREADY MARKETS HAD IMPROVED IN TERMS IF PRICES, AND EVERY ONE KNOW IS IN A BULLISH TONE FOR KABULI CHICK PEAS

IT IS LOOKING THESE YEAR PRICES CAN BE VERY FIRM LOOKING THE DAMAGE OF NEW CROP OF INDIAN KABULI CHICK PEAS AND WE CAN LOOK A REPEAT OF YEAR 2010-2011 & 2011-2012 WHERE WE WITNESSED PRICE FOR USD 1800 CNF MERSIN PORTS .

PLEASE FIND THE PICTURES FOR THE ICE BALLS AND DAMAGE

PLEASE FINE THE LINK OF THE RAINFALL NEWS FOR YOUR REFERENCE .

http://in.news.yahoo.com/madhya-pradesh-cm-announces-relief-rain-hit-farmers-114048521.html

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