Mumbai, 12 Mar 2024 (Commoditiescontrol):Chana prices rebounded after recent declines, driven by bargain buying at lower levels. Traders also covered positions ahead of Holi and ongoing Ramadan festivals. Arrivals are expected to slow due to financial year-end closures and Holi, bolstering prices.
In Delhi, Rajasthan line Chana gained Rs 100/quintal, and Madhya Pradesh line increased by Rs 125/quintal. Maharashtra and Madhya Pradesh centers remained steady with balanced supply and demand. Raipur, Kanpur, and Bikaner saw modest price increases due to strong mill demand.
Maharashtra mandi prices declined slightly on robust arrivals, but matching demand limited losses.
Chana prices should remain firm in the short term due to reduced arrivals from financial year-end closures and the Holi festival. Ramadan and upcoming festivals will maintain robust demand. After Holi, arrivals from Rajasthan are expected to increase, potentially offsetting government purchases for its buffer stock.
Spot Chana Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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