Pulse weekly outlook: Chickpea prices lower but still very good

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Published: February 15, 2022

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Chickpeas. (CalypsoArt/iStock/Getty Images)

MarketsFarm — Although prices for chickpeas have pulled back somewhat over the last month, Colin Young of Midwest Grain at Moose Jaw, Sask. emphasized the market has not turned bad in any manner.

“It’s just the level of expectation we had, given the rise in prices of other commodities. Given that we were out there early in the fall, [they] sort of showed a trajectory that we were going to shatter the ceiling of prices we had before,” he said.

“To have them peel back down to where the demand has been sluggish, you can’t sell them very easily.”

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Over the last 30 days, nine- and 10-millimetre Kabuli chickpeas have dipped two cents per pound in Western Canada, according to Prairie Ag Hotwire. That places them at 35-46 cents/lb. delivered.

Seven- and eight-millimetre Kabulis have lost 10.5 cents/lb. over the same time, with prices at 23.5-34.5 cents/lb. delivered.

Young noted that 40 cents/lb. for most chickpeas “is not a failure,” as farmers would like to get that amount.

“I just feel disappointed that it’s not 60,” he joked.

Young said buyers have made conscious decisions to limit their purchases to only what they absolutely need at a given time — but added that the market remains “awesome.

“We are talking about squeezing the top 10 cents/lb. out of a great market.”

— Glen Hallick reports for MarketsFarm from Winnipeg.

About the author

Glen Hallick

Glen Hallick

Reporter

Glen Hallick grew up in rural Manitoba near Starbuck, where his family farmed. Glen has a degree in political studies from the University of Manitoba and studied creative communications at Red River College. Before joining Glacier FarmMedia, Glen was an award-winning reporter and editor with several community newspapers and group editor for the Interlake Publishing Group. Glen is an avid history buff and enjoys following politics.

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