Mumbai, 06 May 2024 (Commoditiescontrol): Kabuli chana prices remained steady on Monday, for the third consecutive session, in major mandis of Madhya Pradesh, contrasting with a Rs 100 per quintal decline in container rates due to subdued demand.
Indore Mandi witnessed an increase in arrivals, with bag counts rising from 4,200 to 5,200 bags, reflecting a robust supply chain. Overall, Kabuli arrivals in Madhya Pradesh surged to an estimated 24,000 to 25,000 bags, up significantly from the previous session's 3,000 to 5,000 bags.
Internationally, Kabuli prices in Canada stood at USD 870 and USD 760 per metric ton FOB for 9 mm and 7 mm variety, respectively, maintaining stability compared to the prior week.
Experts anticipate Kabuli prices to trade within a limited range with a negative bias. Ample domestic supply, weak demand due to slow exports, and a pause in the marriage season for the next month are expected to depress demand. However, current prices are near the season's lower range, limiting potential downside. Stockist demand should emerge at lower levels to replenish inventories in anticipation of domestic festival demand starting in late August.
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(By Commoditiescontrol Bureau; +91-9820130172)
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