Australia Market Situation

27-Mar-2025 05:10 PM

Australia Market Situation
Chickpeas
★ According to data from the Australian Bureau of Statistics (ABS), Australia exported 1.6 million tonnes of chickpeas between October 1 and January 31, while the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) has estimated a record 2.27 million tonnes for the 2024-25 crop.
★ With India likely to reintroduce tariffs (import duty) on chickpeas from April 1, exports in February are expected to be only around 100,000 tonnes, and bulk shipments in March seem unlikely.
★ If the Indian government extends the tariff-free period, current crop prices could surge.
★ Most of the remaining crop will be shipped via containerized trade to Pakistan and Bangladesh, while around 50,000 tonnes will be reserved by farmers for seed.
★ For new crop deliveries in November-December, chickpea prices in Darling Downs are around $830 per tonne, up by approximately $10 per tonne from last month.
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Lentils
★ The Indian government unexpectedly reintroduced a 10% tariff on lentils on March 8, earlier than the planned April 1 implementation.
★ According to fresh ABARES data, Victoria's 2024-25 lentil crop is estimated at 535,000 tonnes, down 31% from the 780,000 tonnes in 2023-24. Meanwhile, South Australia’s (SA) crop is projected at 555,000 tonnes, a 27% drop from last year's 760,000 tonnes.
★ The tariff was anticipated, prompting traders to accelerate lentil exports.
★ With bulk exports slowing down, port delivery prices have stabilized at around $850 per tonne, down by approximately $50 per tonne from last month when Indian demand pushed prices higher.
★ Demand is rising in Bangladesh, and Sri Lanka is also actively purchasing.
★ For immediate sales to Sri Lanka, small Nipper-type lentils are fetching $70-$80 per tonne more.
★ In Canada, farmers may increase lentil acreage as China is expected to impose a 100% tariff on yellow peas, canola meal, and oil, while the U.S. is set to impose a 25% tariff.