Mumbai, 16 Apr 2024 (Commoditiescontrol):Prices for Kabuli chickpeas experienced a significant jump in major mandis of Madhya Pradesh on Tuesday. Market reports indicate an increase of Rs 200 per quintal. This surge is attributed to limited crop arrivals due to many mandis remaining closed in observance of Ashtmi today and tomorrow's Ram Navami festival.
Arrivals of Kabuli chickpeas at the Indore mandi, a central trading hub, plummeted to 5,000 bags, representing a 3,000-bag decline compared to the previous session. This supply shortage and steady domestic demand have triggered a price surge for Kabuli chickpeas.
The supply dip is evident across Madhya Pradesh's Kabuli growing regions, with overall arrivals estimated at 30,000 to 32,000 bags, marking a 20,000 to 22,000 bag decrease. Container prices have mirrored this trend, also rising by Rs 200 per quintal.
Kabuli chickpea prices will likely trade within a limited range until arrivals in mandis continue. Ample supply from this year's increased Kabuli crop is expected to keep prices under pressure as arrivals normalize in the coming days. This abundant supply and sluggish export demand should prevent significant price increases. However, domestic demand remains robust, supporting the prices. Further, Kabuli prices have already corrected sharply from their seasonal highs, likely attracting stockist buying and limiting any further downside.
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(By Commoditiescontrol Bureau; +91-9820130172)
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