News Capsule: Australia Chickpea Prices Rise, Putting Pressure on India’s Import Costs
★ Concerns over availability are increasing as Australia is expected to have a smaller chickpea crop this season. At the same time, buying interest from Bangladesh and Pakistan is increasing, strengthening Australian chickpea offers.
★ For India, Australian desi chickpeas for September/October shipment have risen to $695 per tonne CNF, compared with $675 on September 17 and $685 on September 10. Prices have increased by $20 per tonne, or around 3%, over the past week. The current offer is also about 4% above the four-week average of $669 per tonne.
★ India’s domestic chickpea market is also showing strength. Rising Australian offers are therefore becoming increasingly important for the Indian market. If Australian prices continue to rise, the landed cost of imported chickpeas in India could increase further.
★ If domestic chickpea prices continue to rise and Australian offers remain firm, the Indian government may consider reducing or temporarily waiving import duty on chickpeas to improve domestic availability and contain price pressure.
★ India is now a key market to watch. If domestic chickpea prices continue their upward movement, import-duty relief could become an important policy option.
