THE BIG PICTURE
THE BIG PICTURE
Watchorn: "The Indian import policy date is creating the logistics issue as it means demand is frontloaded, which means you frontload your capacity. If India extends the deadline, the pressure will come off as there will be more time to sell. Whether there are any stocks left by the time they do that is another question." By mid-October, chickpea prices from Australia to India and to Pakistan both sat around $820/830 MT. By mid-November, those prices had plummeted to $670/MT and $700/MT respectively. In 2016, the last time Australia had a crop this big, Ramadan began on May 28 the following year, after India had brought in its Rabi crop. This meant India was able to supply its domestic market with its own production, rather than relying on imports from international sources, such
Last year's Australian production was 450-491 KMT, but estimates suggest we may see this tripled for 2024 (Shutterstock).
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