Chickpeas: Market Trends and Challenges Ahead

The global chickpea market is undergoing notable changes, with shifts in supply and demand impacting prices. India and North America are key players shaping the market’s direction, with implications for buyers in 2024 and 2025.

India: A Record Harvest Creates Pressure

India has seen an exceptional harvest this year, producing 3 million metric tons, a sharp rise of 1.2 million metric tons compared to last year. While this might seem beneficial, the oversupply has led to significant price declines, as demand—both domestically and internationally—remains subdued. Efforts by traders to hold back stock have done little to offset the effects of the surplus. Experts suggest that prices may stabilize temporarily, but a sustained recovery will require stronger demand.

North America: Growth in Chickpea Acreage

In North America, particularly in Canada, farmers are planning to expand chickpea cultivation in 2025, responding to the crop’s growing popularity in plant-based diets. While this expansion signals opportunity, it also raises concerns about adding to global supply, which could put further pressure on prices.

2025 Market Outlook

As we approach 2025, the market faces mixed signals:

• Supply: India’s large carryover stock and North America’s anticipated production increases suggest continued high availability.
• Demand: Growing interest in chickpea-based products, such as snacks, protein powders, and gluten-free flours, may help absorb some of the surplus. However, recovery in demand is expected to be gradual.
• Pricing: Analysts forecast that chickpea prices will remain below the peak levels seen during the global shortages of 2021-2022. Buyers can expect more stability but should monitor weather patterns and trade developments closely.

Opportunities for U.S. Buyers

For U.S. businesses, these conditions present an opportunity to negotiate competitive pricing for bulk purchases. By diversifying suppliers and securing contracts early, buyers can mitigate risks while taking advantage of the favorable pricing environment. As global demand slowly catches up with supply, careful planning will be essential to remain ahead of the curve.

The chickpea market is entering a transitional period, and understanding these trends can help businesses make informed purchasing decisions.