Supply Pressure Supports Chickpeas
PANAMA - Oct 7/16 - SNS -- International chickpea markets maintained their firm tone through the past week, with short term demand factors continuing to dominate both kabuli and desi type markets.
Unofficial yield estimates for Canadian crops added to market temperament. Saskatchewan Agriculture thinks yields will average 1,300 pounds per acre, suggesting the crop is smaller than originally forecast by Statistics Canada.
Quality is also expected to an issue in Canada, with crops having suffered through wet growing and harvest conditions. This has also impeded the ability of farmers to harvest this year's crop, with provincial data suggesting the harvest may only be 40% complete, compared to 61% at this time last year and the recent average of 70% complete by the beginning of October.