The International Chickpea Market Price Remained Stable During W50 While Awaiting Changes in the Canadian Market

The International chickpea market price remained stable during W50. Market expectations of a poor Mexican harvest and expectations of high US import volumes prevented any price declines. Chickpeas markets closely monitored Canada’s chickpea harvest, which dropped from an estimated 156,700 MT in September 2022 to 128,000 MT in the final crop report released in December 2022. Market participants are eagerly waiting to see if the Canadian yield changes will be reflected in the USDA’s final production estimate, which will be released on January 12th, 2023. A similar decline in the USDA reports could push price movements higher.