ECONOMY
Australian chickpea price surge after India suspends Import Duty on the pulse
- IBJ Bureau
- May 08, 2024
Australian desi chickpea prices rose sharply after India suspended tariffs on imports recently, opening the door to a revival of a trade once worth hundreds of millions of dollars.
Higher prices and increased demand from India would encourage farmers to plant more chickpeas in the coming months, said industry body Grains Australia.
India, the world’s biggest chickpea consumer, on May 4 had suspended tariffs until March 31 next year following a poor local harvest. Australia, the largest exporter of chickpeas, is in pole position to benefit.
“Australian exporters will be immediately positioning product for Indian ports," said Peter Wilson, the chair of Grain Australia’s pulse council.
With the sowing season just getting under way in Australia, “this will guarantee that a bit more is planted,” Mr Wilson said.
Australian desi chickpea prices rose from around A$810 ($535) a tonne in February to more than A$900 last week in anticipation of the tariff decision.
After the announcement, prices were as high as A$1,150 a tonne, a trader said.
Australia has exported on average 600,000 tonnes of chickpeas worth around $325 million a year in the last five years, its trade data show. Mr Wilson said that around 90 per cent of these were desi, which are smaller and usually darker coloured than the white Kabuli variety from which hummus is made.
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