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Chana Prices Show Mixed Trend, Limited Trading Due to Festivals

16 Apr 2024 6:38 pm
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Mumbai, 16 Apr 2024 (Commoditiescontrol):Chana (chickpea) prices displayed a mixed pattern across north Indian markets today, influenced by religious observances . Limited trading activity due to Ashtmi today and the Ram Navmi tomorrow resulted in mixed trend in the market.

Prices increased in major consuming centers like Jaipur, Raipur, and Indore, attributed to strong demand from processors. In contrast, markets in Akola and Kanpur witnessed a decline in prices due to subdued demand. Delhi reported stability in prices with reduced activity today.

Market analysts predict a continued downward trend in chana prices. The imminent arrival of the new crop from Rajasthan, a key supplier, will increase market supply. Additionally, cautious market participation, stemming from concerns about potential government intervention to control prices, is anticipated to weaken demand. Furthermore, industry reports indicate a slowdown in demand for dal (lentils) due to a shorter wedding season.

However, anticipated government purchases to build buffer stocks at market prices, along with buying activity by stockists at lower levels, are expected to provide some support and limit the extent of the decline in chana prices.

Spot Chana Prices In Key Indian Markets:

(By Commoditiescontrol Bureau; +91-9820130172)

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