Chickpea markets remain relatively quiet, but the current conditions suggest this stability may not last. India is reporting low trading activity, while global supply remains tight. Several major importers are beginning to step up purchases, which could place additional pressure on available stocks and lead to higher prices.
India: Calm, but Vulnerable to Demand Shifts
Indian market participants describe the domestic chickpea market as largely inactive. Exports are limited, and domestic sales remain weak. Prices have only dropped by USD 10/MT over the past week. That small adjustment, despite minimal activity, signals underlying firmness.
In Maharashtra, where prices had previously declined, values are now stable. Karnataka’s supply is limited, and most of it is concentrated in major hubs like Delhi. Stocks are primarily in private hands, as government procurement efforts failed to meet their targets. This leaves the Indian market exposed should demand suddenly increase.
Canada: Large Acreage, Stable Prices
Canada is projected to plant 453,000 acres of chickpeas this season. That’s a 6% decrease from last year, but still close to historical highs. This level of acreage suggests growers remain confident in the crop, although overall pulse acreage in Canada is expected to decline by about 2%, according to Agriculture Canada.
Farmgate prices in Canada are currently ranging from CAD 0.36 to 0.38 per pound, equivalent to roughly USD 800–840 per metric ton. Pricing has not moved significantly in recent weeks. There’s limited buyer activity, and some producers are holding onto inventory, waiting for stronger market signals.
Global Demand Increasing
Several importing countries are expanding their chickpea purchases:
- Pakistan is forecast to import 730,000 metric tons in 2025/26, nearly double the volume of the previous year.
- Bangladesh is expected to import 340,000 metric tons, up from 225,000 the year before.
These increases will further tighten the global supply chain. India, though calm for now, could resume exports at short notice, particularly of Kabuli varieties, which are currently priced at around USD 1,500/MT FOB.
Risk Factors
- Inventory location: Most Indian supply is held privately, with minimal government reserves.
- Global fundamentals: Demand is increasing while carryover stocks remain low.
- Crop outlooks: Weather conditions in both India and Canada during the next few weeks will be important. Any disruption could shift pricing quickly.
Considerations for U.S. Buyers
For buyers sourcing chickpeas for bulk seasoning blends, hummus, or industrial applications, the following points are worth tracking:
- Monitor availability and pricing from Canadian suppliers, especially for large-caliber Kabuli types.
- Stay updated on Indian export trends—supply is currently quiet but could tighten quickly.
- Rising demand from South Asia may reduce the availability of competitively priced volumes later in the year.
Prices remain steady for now, but the balance is fragile. With limited inventories and growing demand, even a moderate change in trade flows could push prices higher in the second half of 2025.