Mumbai, 06 Sep 2024 (Commoditiescontrol): Chana (chickpea) prices recorded significant gains across the major mandis of Madhya Pradesh, driven by reduced arrivals. In parallel, bilty trade also saw improvements, reflecting the rise in mandi prices. However, cautious demand tempered the extent of these increases, resulting in relatively modest gains in bilty trade compared to those in mandi transactions.
While international markets and imports held steady, they continue to show a firm trend in domestic markets tracking firm tone in desi chana prices.
"All expenses paid" or bilty trade remained firm, with Rajasthan and Madhya Pradesh line chana prices increasing by ₹15 per quintal in Delhi. In Indore, Chana Katewala rose by ₹50 per quintal, and a similar gain was recorded in Jaipur. Desi chana prices in Maharashtra and parts of southern India remained steady for local Desi and Annagiri varieties, while the Kanpur market saw an increase of ₹50 per quintal. The upcoming Ganesh Chaturthi festival is expected to further drive demand in Maharashtra and Karnataka, providing additional support for prices.
On the international front, chana markets remained stable, with Tanzanian and Australian-origin chana prices quoted at $890 and $900 per metric ton in Mumbai, respectively. In rupee terms, Tanzanian-origin chana was steady at ₹7,150 per quintal, while Australian-origin chana added ₹50 to reach ₹7,650 per quintal.
Chickpea exports from Australia witnessed a significant decline in July, with shipments totaling 14,500 metric tons (MT), a 63% decrease from the previous month's 38,816 MT, per data from the Australia Bureau of Statistics. Cumulative exports for the current marketing year fell to 378,035 MT from 484,425 MT in the prior year. India was the leading importer with 9,288 MT, followed by Bangladesh and Nepal, purchasing 1,582 MT and 905 MT respectively.
Meanwhile, Canadian chickpea exports declined by 32% in July, with the United States, Israel, and Egypt as the top importers.
Chana prices are projected to hold steady or strengthen in the near term, supported by peak retail demand. However, as festival demand subsides by early October and the influx of overseas chana supplies and lower-cost matar intensifies, a downward pressure on chana prices is anticipated.
Spot Chana Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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