Kabuli chana prices, containers quote remain stable

Mumbai, 08 May 2024 (Commoditiescontrol): Kabuli prices in Madhya Pradesh's major mandis have maintained steady tone on Wednesday, owing to limited buying and slow arrivals. Container quotes too remained largely unchanged. According to local traders, prices have failed to hold high level, which has led to pessimism among retailers. Furthermore, given the shorter wedding season, domestic demand is expected to remain low.

In trading, Kabuli gram container prices surged by Rs 100 amid fresh demand. Export quality Kabuli gram held steady at Rs 12,800 per quintal. However, at Dhamnod Mandi in Madhya Pradesh, arrivals spiked by 360 quintals to 4,770 quintals, driving prices down by Rs 500 to reach a low of Rs 8,500 per quintal. Nonetheless, superior quality chickpeas saw a rise, reaching Rs 10,640 per quintal.

Today in Dhamnod Mandi of Madhya Pradesh, arrival jumped by 540 quintals to 4,410 quintals. The price added Rs 500 from lower level to Rs 9,000 per quintal. However, lack of good quality chickpea led price correct Rs 160 from the upper level to Rs 10,295 per quintal.

Kabuli Chana at Indore Mandi were closed on account of "New Moon" or Amavashya while container trade maintained steady tone. Arrivals reported at 4,200 bags, a decrease from 5,200 bags the previous session. Overall, arrivals in Madhya Pradesh's Kabuli growing belts were estimated to be between 18,000 and 20,000 bags, a decrease of 4,000 to 5,000 bags from the previous session.

At Karahi market, arrival increased by 186 quintals to 1,386 per quintal due to which the price dropped by Rs 185 to Rs 8,705 per quintal. Prices increased by Rs 20 from upper level to Rs 10,465 per quintal. Sanwasd mandi reported arrival of 400 quintals Kabuli gram to trade in the range of Rs 7,105 to Rs 10,295 per quintal. In Anjad, arrival of 975 quintals reported and were offered between Rs 9,190 to Rs 10,500 per quintal.

Export quality Kabuli gram remained at Rs 12800 per quintal. There was stability in the container.

Kabuli prices in Canada for 9 mm and 7 mm were reported as $865 and $755 per MT, respectively, lower by $3 per MT from the previous week.

According to experts, the demand from exporters for Kabuli gram is weak. Local traders informed that the prices are not holding up at higher levels, leading to pessimism among stockists. Furthermore, because of pause wedding season for one month, domestic demand is expected to be low.

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