Mumbai, 24 June 2024 (Commoditiescontrol): Chana prices have dropped significantly in major markets due to the recent imposition of stock limits, with prices falling by approximately Rs 200-250 per quintal over the past two sessions. In Delhi, prices for Rajasthan and Madhya Pradesh lines have declined to around Rs 6,875-6,900 per quintal. Local sources report that despite high demand, the stock limit has exerted downward pressure on prices as bvuyers are doing only need based buying.
In Mumbai, there were no CNF quote 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 6,250 per quintal while Austrlia Chana recorded steady tone. Prices of all expenses paid (Bilty) chana were largely softer.
Major mandis in Madhya Pradesh and Rajasthan have also seen price reductions, ranging from Rs 50 to Rs 200 per quintal. According to local traders, supply has increased as farmers bring their produce to market to cover kharif sowing expenses, following moderate rains in some regions yesterday.
Stock limits are expected to further depress prices in the coming days as buying is expected to decline substantially. Additionally, with matar prices trading at a significant discount to chana, much of the chana demand is shifting to matar, thereby putting pressure on chana prices.
The recent imposition of stock limits has triggered a sharp decline in chana prices across major markets. Contributing to this downward trend are increased supply from farmers and competitive pricing of matar. Additionally, demand has waned due to these stock limits. Further declines are expected as the full impact of the stock limits is realized.
Moreover, the delayed monsoon and above-normal temperatures in North India have further dampened demand for chana. However, demand is anticipated to pick up once the monsoon covers the northern regions and temperatures cool down, providing some support to prices.
Spot Chana Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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