Ag Canada Expects Smaller Chickpea Area
VANCOUVER - Feb 22/13 - SNS -- In its latest monthly review of Canadian chickpeas Agriculture Canada's market analysis branch in Winnipeg predicts seeded area will total 173,000 acres this year, compared to 200,000 acres last year.
It forecasts harvested area will total 166,000 acres for a potential 120,000 MT crop, versus 158,000 last year.
Agriculture Canada forecasts exports will reach 60,000 MT this season and 65,000 MT in the coming marketing year. Domestic use is forecast at 57,000 MT this season and 68,000 MT next season.
Season ending stocks are forecast to finish the 2012-13 season at 60,000 MT and the 2013-14 season at 55,000 MT.
Agriculture Canada expects grower bids to average between $635 and $665 MT in 2012-13 and will average between $615 and $645 MT for all classes in 2013-14.
Chickpea U.S. Loan Program
The USDA's Commodity Credit Corporation office sets prices to be used by country offices for determining marketing loan repayment rates. For 2012 crop product, the price for small chickpeas unchanged at U.S. $27.25 per 100 pounds (cwt) and unchanged at $35.25 for large chickpeas.
At this level there is no Loan Deficiency Payment (LDP) for small chickpeas based on a loan rate of $7.43 and $11.28 for large chickpeas.
As of February 22, growers in the United States have placed 1.77 million pounds of 2012 crop chickpeas under loan. Growers in Montana have placed 1.152 million pounds under loan, compared to 618,000 pounds in North Dakota.
U.S. farmers had placed 1.8536 million 2011 crop chickpeas under loan, compared to 571,700 pounds in 2010-11; 1.7488 million pounds in 2009-10; 798,400 pounds in 2008-09; 482,000 pounds in 2007-08; and 1.664 million pounds in 2006-07; and none in 2005-06.
Growers have requested no LDP Payments so far this marketing year. In 2007-08 and 2006-07, they requested no LDP payments. In 2005-06, they requested a total of $183,840 in LDPs covering 10.711 million pounds.
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