Mumbai, 27 June 2024 (Commoditiescontrol): Chana prices in major markets have displayed resilience, driven by robust demand from dal and besan producers while sellers adopt a cautious approach. In Delhi, prices for the Rajasthan and Madhya Pradesh lines remained unchanged at Rs 6,975/7,050 per quintal, maintaining stability from the previous session. Market reports indicate a notable uptick in demand following a recent price correction, coupled with restricted supply availability.
In Mumbai, CNF quote was not available for for Tanzanian origin chana, while Australian origin chana remained steady at USD 915 per metric tonne. In Mumbai market Tanzania origin chana quoted Rs 50 weak at Rs 6,300 per quintal while Austrlia Chana recorded steady tone. Prices of all expenses paid (Bilty) chana were largely stable. Desi chana prices firmed up by Rs 100 at Akola and Nagpur, whereas at Kanpur market UP/MP Line Chana quoted Rs 75 strong.
Across key mandis in Maharashtra, Rajasthan, and Madhya Pradesh, prices have shown a trend ranging from stable to firm. Local traders attribute this stability to low supply levels, with farmers holding back their stocks amidst rising prices. As prices continue to climb, the anticipation is for even tighter supply conditions in the immediate future.
The market outlook for Chana remains optimistic, with anticipated price increases driven by seasonal demand associated with the onset of the monsoon. This season's limited production, along with farmers and stockists withholding their stock, has significantly constrained supply, supporting price stability. However, stakeholders are cautious about potential significant price hikes due to the ample supply of cheap matar, a key substitute for chana. Furthermore, the absence of stockists and speculators due to stock limits will confine demand to consumption needs, thereby limiting any major rise in Chana prices.
Spot Chana Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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