FOOD FORWARD PULSES & BEYOND SUNIL PATWARI SEASONS OVERSEAS
FOOD FORWARD PULSES & BEYOND SUNIL PATWARI SEASONS OVERSEAS
chickpeas, and pigeon peas are all performing poorly. Can you go into more detail about the dynamics of the desi chickpea and yellow pea markets? I found it difficult to accept the price difference between yellow peas and chickpeas. Although they are different commodities, a $400 gap was excessive. Nobody wanted to buy yellow peas when people were paying $800-900 for chickpeas. People who bought cargo at high prices are in a difficult position. If the cargo is arriving soon and can be shipped quickly, they might still be able to reduce their losses. However, those who bought for future delivery will face challenges as there will likely be a lot of cargo available in the market. There are two schools of thought. Some believe there's a shortage, so any incoming cargo will be absorbed.
Others are hesitant to buy when markets are declining. The chickpea and yellow pea markets are mainly driven by large players who typically stock large quantities of cargo. Currently, everyone is moving slowly because the market is dropping and they have existing stocks they want to sell first. There's fear about what will happen next and whether prices will drop further. Confidence has been lost, as nobody expected such a significant price drop. We're seeing a huge market correction. Let's talk a little bit about pigeon peas. We're seeing some different estimates come out about the size of the crop in India. What's your take on that for next year? Overall, pigeon peas have been quite bullish last year because the crop yield was very low. Prices were consistently high until about two or three months ago
Made with FlippingBook - Online magazine maker