Ag Canada Expects Lower Average Chickpea Prices
VANCOUVER - Sep 21/13 - SNS -- In its latest monthly review of Canadian chickpeas Agriculture Canada's market analysis branch in Winnipeg predicts production will total 149,000 MT from 222,000 acres this year, compared to 161,000 MT last year.
Agriculture Canada forecasts exports will reach 80,000 MT this season, compared to 68,000 MT during the previous marketing year. Domestic use is forecast at 61,000 MT, compared to 59,000 MT last season.
Season ending stocks are forecast to finish the 2013-14 season at 70,000 MT, compared to 54,000 at the end of the 2012-13 marketing campaign.
Agriculture Canada estimates grower bids averaged $690 MT last season and will average between $615 and $645 MT for all classes of lentils this season.
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 2013 crop product, the price for small chickpeas was down $1.67 at U.S. $19.58 per 100 pounds (cwt) and down $1.67 at $28.33 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 September 20, growers in the United States have placed no 2013 crop chickpeas under loan.
U.S. farmers had placed 1.77 million pounds of 2012 crop chickpeas under loan; compared to 1.8536 million in 2011-12; 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.
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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