Mumbai, 18 Apr 2024 (Commoditiescontrol):Chana (chickpea) prices in major Rajasthani mandis (wholesale markets) held mostly steady today, with a notable exception in Merta where prices declined by Rs 200 per quintal. Robust arrivals have kept prices in most Rajasthani markets below Rs 6,000 per quintal.
The situation differs in Madhya Pradesh, Maharashtra, and Karnataka, where lower crop supplies have maintained chana prices above the Rs 6,000 per quintal threshold.
However, major consuming centers like Delhi and Raipur are witnessing a downward trend in prices attributed to sluggish demand from processors. The recent sharp rise in prices, coupled with lackluster end-user demand, has curbed buying activity.
Market analysts anticipate a continued softening of chana prices. Key factors include the imminent arrival of the new crop from Rajasthan, a major chana supplier, which will bolster market supplies. Additionally, buyers are adopting a cautious approach amidst concerns about potential government intervention aimed at stabilizing prices.
Nevertheless, anticipated government purchases to replenish buffer stocks at current prices and possible buying interest from stockists at lower price points could offer some support and potentially limit the depth of the price decline.
Spot Chana Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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