Lower Chickpea Area Relieving Stock Pressure
PANAMA - Jun 1/20 - SNS -- As expected, land in chickpeas in both Canada and the United States is down sharply from last year, with the USDA and Statistics Canada pegging combined area at 602,000 acres, versus 843,000 last year and the record 1.3 million acres sown in 2018.
A return to average yields would see production in Canada drop from 251,700 to 197,000 metric tons from 297,800 acres, while output in the U.S. would fall from around 283,000 to just over 199,000 MT from 304,000 acres.
This summer's ending stocks remain relatively high, with Canada expected to finish the marketing year with 155,000 MT on hand, up from 100,000 at the start of the current marketing year. By contrast, residual stocks in the United States are expected to drop from 260,000 to 219,000 MT.
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