Mumbai,22 Apr 2024 (Commoditiescontrol):Chana (chickpea) prices continued their decline across major Indian markets. This slump is attributed to decreased buying activity by mills due to weak demand for processed chana dal. Additionally, government stock monitoring to regulate prices has further slowed stockist activity.
Prices in prominent mandis remained low, with stable prices noted only in Gulbarga, Basoda, and Lalitpur. Industry sources cite reduced demand for chana dal and besan (gram flour) and a surge in pea imports as primary factors behind the price drop. With monsoon rains projected at 106%, overall market sentiment for pulses remains subdued. Rajasthan markets reported the most significant price decline due to higher-than-expected supply.
While domestic supply has decreased, continued pea imports are likely to further suppress chana prices in the immediate future. Increased arrivals in Rajasthan markets will also exert downward pressure. However, the decline may be limited as prices have already dropped below the Minimum Support Price (MSP) in some Rajasthan centers and are nearing MSP in other states. Government procurement to replenish its buffer stock is anticipated, potentially providing price support.
Spot Chana Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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