Mumbai, 10 May 2024 (Commoditiescontrol): Chana prices made a significant recovery in the evening trading session following the announcement of government procurement at market prices. This news triggered a surge in demand, pushing prices higher across major markets.
The government has directed the National Agricultural Cooperative Marketing Federation of India (NAFED) to commence chana procurement at market rates through the Minimum Assured Price Plan (MAPP) for various states.
MAPP prices have been set at Rs 5,900 per quintal in Madhya Pradesh, Rs 6,035 per quintal in Maharashtra, and Rs 6,000 per quintal in Rajasthan. With mandis closed today, procurement is expected to begin tomorrow.
In response to the procurement news, chana prices in Delhi for both the Madhya Pradesh/Rajasthan lines saw a notable increase of Rs 25-50 per quintal. Bilty prices also experienced a similar recovery of Rs 25-50 per quintal during the evening session.
Market analysts predict a further surge in chana prices in the coming days as government procurement is anticipated to commence on Monday. Given the current scarcity of supply, aggressive buying activity is expected to drive prices sharply upward.
Spot Chana Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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