Canada & US Market/Crop Report for Chickpeas:

20-Nov-2024 11:55 AM

Canada & US Market/Crop Report for Chickpeas:

Canada (AAFC)
Production Estimate for 2024-25: 3.27 lakh tonnes (327,000 tonnes), more than double the previous year's production.
Reasons for Increased Production:
Higher sowing area.
Better yields.
Total Supply: Expected to increase by 34% due to the higher production.
Exports: Projected to reach 1.9 lakh tonnes (190,000 tonnes).
Stock Levels: Expected to rise rapidly due to the larger supply.
Average Price: Expected to be $800 per tonne, lower than the previous year’s price.
United States (USDA)
Sowing Area: Increased by 35% to 200,000 hectares compared to the 2023-24 season.
Production Estimate for 2024-25: 2.8 lakh tonnes (280,000 tonnes), which is a 30% increase from 2023-24.
Challenges: Below-average yields have led to production growth being somewhat limited despite the larger sowing area.
Market Implications:
Canada: The large increase in production is likely to push stock levels higher, potentially leading to a decrease in prices, with a forecasted average of $800/tonne.
USA: While production is up, the below-average yields may limit the overall impact of the increased sowing area. Nonetheless, a 30% rise in production is still notable for the US market.
Overall Trends:
Global Supply: Both countries are contributing to an increase in global chickpea supply, with Canada seeing a substantial rise due to good growing conditions, while the US shows growth despite challenges in yield.
Price Outlook: Expect price pressure due to higher supply, particularly in Canada, where stock levels are set to increase rapidly.
Let me know if you need further details or analysis on any specific aspect!