June 2018 Chickpeas Prices Recap

Chickpeas prices in the month of June were mostly lower: Kabuli chickpeas dropped 18%, while desi chickpeas prices remained unchanged.

We’re still seeing the odd 30 cents CAD per pound bid for kabuli chickpeas, but for the most part, the market is starting to price in the bigger acres expected to planted in North America. 

For our GrainCents readers, we’re watching a variety of factors that might affect chickpeas prices: 5 are bearish, none are bullish, and 3 are noise (AKA those comments and issues that keep making headlines but don’t actually move chickpeas prices that much.

India continues to be the elephant in the room as their policies and production continue to guide the market. More specifically, they’re coming off a record harvest of pulses in 2017/18 and so those government policies to support their farmers aren’t working out that great with prices significantly lower (I’ve previously suggested that the Indian trade policy is more about politics than it is economics),

Also impacting markets all of the sudden is the massive increase in Canadian chickpeas in 2018, compared to what was planted in 2017. This is a topic that has caught many by surprise, but how important is it in the grand scheme that are the global chickpeas market? 

This month, for GrainCents readers, we delved deeper into topics such as:

 – Stronger demand from India?

 – Stats Canada’s estimates for chickpeas acres in 2018/19

 – The USDA’s estimates for chickpeas acres in 2018/19

Heading into the second half of the year, buyers and sellers of chickpeas need actionable insight to make sense of ongoing trade tensions, supply and demand factors, and market behavior. We’re expecting to see a few wild swings in chickpeas prices as the summer months progress, and you owe it to yourself to stay on top of the markets.

That’s why we’re offering a free three-week trial to GrainCents, our exclusive sales recommendation service that holds a 93% success rate on getting farmers the best price possible.

Sign up right here for your risk-free trial.

About the Author
Brennan Turner

Brennan Turner is the CEO of FarmLead.com, North America’s Grain Marketplace. He holds a degree in economics from Yale University and spent time on Wall Street in commodity trade and analysis before starting FarmLead. In 2017, Brennan was named to Fast Company’s List of Most Creative People in Business and, in 2018, a Henry Crown Fellow. He is originally from Foam Lake, Saskatchewan where his family started farming the land nearly 100 years ago (and still do to this day!). Brennan's unique grain markets analysis can be found in everything from small-town print newspapers to large media outlets such as Bloomberg and Reuters.

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