Market Report of ChickpeasGanesh Agro
Practically Indian New crop of chick peas is too early to be talked of, there are a lot of rumours regarding low planting of the crop, Arrival of 2019 chick peas crop from start of the season till date at various produce centre is approx. 390,000 Mts, but you should consider the fact that there is good carry over available for old crop in India.
As per our sources Indian Farmers and stockist should have a decent inventory of 90,000 Mts with them, post new crop 2020, the market situation in the world is very slow. People are doing business hand to mouth and if the prices increase too much they wouldn’t mind to switch over the smaller size chickpeas. Which is available with almost 8 to 9 destinations.
We have heard that Mexico planting is 50% and they are trying to pull up the market price this year. Mexico suppliers are not aggressive in offering the new crop, as they were from last 2 years.
We have to see situation very closely till the gulf food Dubai, how the weather unfolds in India and Mexico.
For me I feel , market will be firm initially till March because Ramadan is 15 days before, and most of the middle East countries and the African countries will try to get new crop cargo for distributions and their shelves for or initial Ramadan festival, freight cost will be on higher side post USA and Iran tensions in Asia.
Trade need to be done with extra care because speculators from subcontinent and from Mexico would be very much active making up the losses they have made in past 3 years.
Please trade with people who can deliver timely.