U.S. Chickpea Fundamentals Look Positive
PANAMA - Sep 11/20 - SNS -- Chickpea markets in the United States received a boost from the latest USDA crop production estimates.
Seeded area was reduced closer to what processors and exporters believe to be the case, with the USDA NASS reducing it from 304,000 acres to 254,000. Based on USDA FSA reports, some market participants thought seeded area was closer to 230,000 acres.
Production was estimated at 176,404 metric tons (MT), down sharply from last year's 282,908 MT harvest and the recent five year average of just over 310,000. Production of large caliber kabuli chickpeas is expected to total 149,460 MT, compared to 218,400 last year, while small chickpea output drops from 64,500 to almost 30,000 MT.
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