CHICKPEA prices have dropped off significantly from their lofty highs from earlier in the year, although good yield predictions could still help farmers capitalise on the bumper crop.
Nidera Australia chickpea trader, Rob Brealey, said chickpea prices were currently ranging from $700 to $750 a tonne.
With chickpeas valued near the $1000/t mark earlier in the year, prices have dropped off although Mr Brealey said earlier prices were inflated due to large demand and no harvest activity.
At the beginning of the year, the chickpea crop prediction was ranging from between 1.7 to two million tonnes.
Mr Brealey said prices spiked after solid falls of rain in June and the chickpea crop prediction dropped down to 1-1.2mt.
With chickpea crops bouncing back from the wet, Mr Brealey said the crop was expected to produce more than that, which has since softened prices.
“The damage wasn’t as severe as first thought, particularly in southern Queensland and northern NSW,” he said.
“Yields are also better than expected.”
Mr Brealey said demand for chickpeas had started to strengthen again, but the crop’s main price influence was the Indian crop, which was currently being sown.
As a rule of thumb, Mr Brealey said India planted in October and November, although they were slightly late this year which has helped stretch out demand for Australian chickpeas by about 15 days.
“There will still be some demand from India going into December, which you don’t often see,” he said.
Agronomists have urged growers to be cautious of chickpea dust and header fires during harvest and to check their headers regularly.
