Chickpeas: stockpiling backfires

July 1, 2024 at 7:32 AM , Der AUDITOR
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NEW DELHI. Stockpiling has backfired for many exporters in India. While chickpeas were in short supply last year, the market is confronted with a supply glut this year. Worse may be in store for stakeholders when the rainy season sets in.

Exports could not be worse

While stocks are piling high in the major producing markets of Madhya Pradesh, Maharashtra and Andhra Pradesh as well as in Karnataka, export demand has slumped to devastating lows. Trouble is that low prices prevail internationally.

Last year’s price surge prompted farmers to increase sowing by 50-52% in the above-mentioned states. Favourable weather conditions further prompted production to surge from 1.8 million mt last year to 3-3.1 million mt this year. In anticipation of high demand exporters stocked up on large volumes

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