Mumbai, 18 Mar 2024 (Commoditiescontrol):Chana prices have extended their upward trend for the fifth consecutive session in major Indian mandis. Robust demand ahead of the Holi festival and favorable dry weather conditions have bolstered crop quality, contributing to price firmness.
Market reports indicate that chana bilty prices have mirrored the upward trend in mandi rates, although gains in bilty trade have been slightly less pronounced.
However, the government's upcoming auction of 60,000 metric tons of chana dal is likely to temper market sentiment in the near term.Further increased chana arrivals post-Holi, particularly from Rajasthan, Maharashtra, and Madhya Pradesh, are also anticipated which is expcted to put pressure on prices in near term. Despite this, the smaller crop size this season, along with government purchases to replenish buffer stocks, should prevent any major price declines.
Spot Chana Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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