THE BIG PICTURE F ood inflation is currently rampant in India, and pulses are no exception – in June, pulse inflation sat at 17% YoY and a key element of this inflation is the yellow pea - typically a cheaper substitute for chickpeas in Indian cooking -, of which prices increased by 15% during the month of May. Even in a good crop year, India runs at a deficit in terms of both yellow pea and chickpea supply, and current estimates suggest that production of both will fall short of expectations this year. A May 12 report from the India Pulses and Grains Association (IPGA) estimates this year’s yellow pea crop will be between 750,000-800,000 MT – a significant drop from earlier estimates of 1.1 MMT. The Pulse Atlas puts domestic use of yellow peas in India at around 835,000 MT in 2023, which means supply will likely be tight. Current trade estimates for chickpea production are between 8.5-9 MMT, up to 27% lower than the
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