Chickpeas Continue Softening



PANAMA - Feb 10/18 - SNS -- The underlying tone in chickpea markets continues to soften against steady increases in available supplies of product in net exporting countries.

World production of desi chickpeas is expected to leap from 11.5 to 12.1 million metric tons (MT) in the face of record seeded area in India.

At the same time, global kabuli chickpea production should be up at least 83,000 MT at 2.8 million. There is a risk global trade will decline mainly because of a forecast drop in imports by India.

Earlier this month, India raised import duties on chickpeas to 40% and replaced the 3% education surcharge on duties paid with a 10% social surcharge. That has frozen import demand for desi chickpeas.