Chickpea Harvest Could Be Unchanged
VANCOUVER - Jul 20/13 - SNS -- In its latest monthly review of Canadian chickpeas Agriculture Canada's market analysis branch in Winnipeg predicts production will total 155,000 MT from 222,000 acres this year, compared to 158,000 MT last year. It is important to note Agriculture Canada's estimated production is not an official number.
It is worth noting that many chickpea farmers report they are experiencing more disease pressure than normal. This is increasing production costs because of the need to spray crops with fungicides more frequently, as well as the risk that yields and quality will be lower than currently expected.
Agriculture Canada forecasts exports will reach 65,000 MT this season and 70,000 MT in the coming marketing year. Domestic use is forecast at 62,000 MT this season and 68,000 MT next season.
Season ending stocks are forecast to finish the 2012-13 season at 50,000 MT and the 2013-14 season at 75,000 MT.
Agriculture Canada expects grower bids to average between $675 and $685 MT in 2012-13 and 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 2013 crop product, the price for small chickpeas was down $1.70 at U.S. $22.50 per 100 pounds (cwt) and down $1.95 at $31.25 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 July 19, 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.
Of the 2012-13 crop loans, 1.578 million pounds have been repaid.
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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