Mumbai, 29 Apr 2024 (Commoditiescontrol):Chana (chickpea) prices continued their upward trend for the third consecutive session across most major Indian markets. This increase is attributed to reduced arrivals and reluctance by farmers and stockists to sell their holdings. However, the Delhi market witnessed a decline in prices for the Rajasthan line.
In Rajasthan's key mandis, prices have increased sharply by Rs 50-400 per quintal, initially fueled by lower prices in the state compared to others. In the evening session, prices dipped slightly due to rumors of potential government intervention against stockists. Dal (lentil) prices also experienced a notable rise across markets.
Market reports indicate a surge in buying activity from local/village buyers who are anticipating further price increases and supply shortages. This heightened demand has further contributed to the price rise in Rajasthan.
Conversely, Delhi saw a drop of Rs 25 per quintal for the Rajasthan line of chana, settling at Rs 6,500. The Madhya Pradesh line remained steady at Rs 6,450.
Market analysts suggest that recent government action, or rumors of it, along with ample imports of matar (peas), a substitute for chana, will likely curb any major further price increases. However, this year's smaller chana crop and stockist demand at lower levels could prevent significant price drops. As a result, chana prices are expected to fluctuate within a broad range.
Spot Chana Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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