Smaller Canadian Chickpea Crop
VANCOUVER - Apr 18/14 - SNS -- In its latest monthly review of Canadian chickpeas Agriculture Canada's market analysis branch in Winnipeg updated forecasts for 2014. It is important to note that Agriculture Canada does not survey growers and its forecasts should not considered official.
It thinks chickpea production this year will total 130,000 metric tons (MT) from 173,000 acres, compared to 182,000 MT from 198,000 acres in 2013.
Agriculture Canada forecasts exports will reach 85,000 MT in 2014-15, compared to 55,000 MT this season. Domestic use is forecast at 58,000 MT in the coming marketing year, versus 65,000 this season.
Season ending stocks are forecast to finish the 2014-15 marketing year at 125,000 MT, versus 130,000 this season and 54,000 MT last season.
Agriculture Canada estimates grower bids will average between $500 and $530 MT for all classes of chickpeas this season and predicts they will range between $565 and $595 MT in 2014-15.
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 up 31 cents at U.S. $17.39 per 100 pounds (cwt) and up 31 cents at $26.86 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 April 18, growers in the United States have placed 1.5488 million pounds of 2013 crop chickpeas under loan. This includes 988,800 pounds in Montana and 560,000 pounds in North Dakota.
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.
Of the 2013-14 crop loans, none have been repaid.
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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