Executive Summary:

In 2014-15 Rabi season, Chickpeas sowing was taken only in 8.59ha by farmers of India, lower by 1.41mha (14.09%) mainly due to lower realization during 2013-14 and went for other high return crops. This yielded in lower production output of around 7.70mtons, lower by 1.83 m tons (19.20%). Amid this the erratic monsoon rains resulted in extension of Kharif crop cycle and lower residual rains, which also resulted in sown crop and final yield. Unseasonal rains at Feb-March’15 also feared to affect the quality of crop and the final yield by only about 0.58mtons. Current season behavior could be very similar to 2011-12 season, wherein India witnessed deficit supply. This resulted in substantial gains in chana prices.

To add to these worries, forecast of below normal monsoon rains in 2015 (though it is too early) could also increase bull’s activity. India may be required to import of about 0.40mtons of chickpeas from external source to meet the domestic requirement. In current season, India will be left with stocks of around 0.65mt which is drastically lower by 1.10mt compared to last season. So 2014-15 could be more than ‘Good year’ for farmers in terms of price realization on supply shortage

So we expect chana prices to test record price level of Rs.5000/quintal during current season, which is current placed around Rs.4150-4000/quintal at most of the markets. One will not be surprised to see chana trading at all time high.

CONTENTS

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 List of Charts
 List of Tables
 List of abbreviations used/ Acronyms
 Executive Summary
 Procurement Advice
 Chickpeas Balance Sheet of India
 Chana Area, Production and Yield of India
 Note on Unseasonal Rains
 Support price for Chickpea
 Chickpea Trade of India
 Australian Chana Import Price Trend (CIF):
 Supply-Demand of other major producing countries
 Arrivals and price trend at major markets
 Technical Outlook
 Dry Peas Supply Demand of Major Producing Countries

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