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Firming Undertone in Chickpeas
VANCOUVER - Apr 4/09 - SNS -- International chickpea markets started to firm during the past week against tightening stocks in India, with some exporters predicting values will continue rising.
Appreciation in the value of the Mexican peso also helped market sentiment, because it forced exporters to raise asking prices to avoid losing money on purchases from growers.
Markets were unaffected by the USDA seedings intentions report, which forecast an 18% increase in total plantings to 96,600 acres. However, all the increase was in small caliber chickpeas. Land in large caliber kabuli chickpeas is expected to drop 3% to 69,300 acres.
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