Chickpeas: artificial supply squeeze stabilises market

April 15, 2024 at 11:09 AM , Der AUDITOR
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NEW DELHI/OTTAWA. After prices slumped in recent months growers in India have changed tack, which appears to be working for now. In how far prices will remain firm is a matter of debate.

Farmers hold back

Forecasts have come true as the market has passed its low with prices climbing by a moderate USD10/mt. Yet, it should be noted that the market is unusually volatile for the time of year. Issue is that last year's record high prices prompted farmers to plant more chickpeas. As this caused sharp price declines farmers are now holding back in a successful attempt at driving up prices again. With this being the case in Andhra and Madhya Pradesh and in Karnataka, India's most important producing states, supplies have started to run low in the northern p

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