Focus on Oils [Olive Oil]
Taking a closer look at the major commodities markets can aid in crafting effective buying...
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Spotlight on the major commodities markets as a tool to help with buying strategies, for chickpeas there's a positive production outlook.
- CANADA: Expectations of increased acreage confirmed. Increased export projections for the current crop year (at an all-time high) which will bring final stocks to their lowest levels.
- INDIA: About 85-90% of the harvest was completed. In terms of quality, the grading was mostly below average. Demand in the domestic market is brisk and stocks are high.
- AUSTRALIA: Exports slowed down in the last two months. Bangladesh was still by far the largest destination market (67% of the total), followed by Pakistan and the United Arab Emirates.
- Kabuli: The recent heavy snowfall and low temperatures in Canada are keeping the market on edge, threatening to delay sowing. Quotations are still hovering around historically high levels in the North American market due to low expected final stocks and the need for average yields of future crops in order to see increased supply from this area.
- Desi: The Indian government remains confident that its first production estimate is correct. In fact, the import ban on yellow peas (typically substituted during chickpea shortages) remains in place. At the same time, chickpea exports in the first two months of the year have increased in comparison to 2022.
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