![Chickpea crops have made the most of good rain through Queensland this season, not suffering from excess moisture as was the case in parts of NSW. Chickpea crops have made the most of good rain through Queensland this season, not suffering from excess moisture as was the case in parts of NSW.](/images/transform/v1/crop/frm/5Q2j7ezUfQBfUJsaqK3gfB/9e304877-5bed-4018-b9b4-755dee6ff594.jpg/r0_0_1414_2121_w1200_h678_fmax.jpg)
AUSTRALIAN farmers who harvested pulse crops early have been able to cash in on a short-term supply drought and sell their product at near record prices.
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The major beneficiaries have been Queensland farmers, who harvest first each year.
AgForce grains section president Wayne Newton said some farmers had enjoyed a season for the ages, with the rare combination of high prices and high yields.
“The chickpea price was up around $1100 a tonne – on-farm no less – three weeks ago.”
“There were also reports of people harvesting crops in excess of three tonnes to the hectare, so doing the maths, there were some fantastic gross margins out there.”
The high prices were on offer as exporters scrambled to get product off the docks and into subcontinental markets for immediate delivery.
Since then, the premium has come out of the chickpea market, with prices at around $800/t, however Mr Newton said growers were more than happy with that.
“Historically, these are still prices right up near high levels and our yields are some of the best ever, so chickpea producers have every reason to be pleased.”
“People with unripe chickpea crops are just busting to get into them with prices where they are.”
New Pulse Australia chairman Ron Storey agreed current values still represented exceptional opportunities for growers.
“This is a golden opportunity for people with chickpeas this year to get some very good gross margins with good prices and good yields.”
“Rather than lament the $1100/t that was on offer three weeks ago, I think nearly every grower yet to harvest would look at that $800/t figure as very attractive.”
He cautioned growers not to expect these current values to become a new norm.
“Will these sort of values be on offer once the new Indian crop, boosted by the first good monsoon rains in three years, comes on line in March?” he questioned.
“The answer is most likely to be no.”
From an industry perspective, he said the tremendous volatility in pulse markets this season would put the strain on the trade, particularly those who had offered grower-friendly hectare based contracts at high values.
“This has the potential to be a testing year for marketers and the trade has to manage extra risk, with growers as the counterparty.”
Further south, Victorian growers are pleased with early lentil crops to be harvested.
Matt Witney, consultant with Dodgshun Medlin, based at Swan Hill, said there were reports of lentil yields of 2-2.5t/ha through the Mallee, which is right at the top of district expectations.
He said growers were also pleased with prices of around $710/t.
“They are making some very good margins from their lentil crops this year,” he said.
In other news, Mr Newton said cereal crops were also progressing well in Queensland.
“We have heard of a lot of 4.5-5t/ha barley crops in the Dalby area, wheat is much the same, maybe a tiny bit less.”
“It is certainly one of the better years here in Queensland.
“Not too many areas are missing out, even parts of the south-west where it wet, the good areas are compensating for those that got washed out.”