New Delhi, March 04 (Commodities Control): Chana prices have managed to maintain stability in the face of adverse weather conditions and reduced arrivals, according to market reports. The combination of increased demand from mills and a decline in arrivals, attributed to wet weather affecting harvesting in major Chana-growing areas, has contributed to the current market situation.
Widespread reports of hailstorms in crucial Chana cultivation regions have added uncertainty to the market. The prevailing weather anomaly is expected to impede harvesting operations, subsequently keeping arrivals lower than usual. This, in turn, is likely to provide support to Chana prices in the near term.
Surprisingly, despite the anticipation of a decline in supply, Chana prices have not witnessed a significant increase. The primary factor influencing this trend is the substantial import of peas (matar). Sources indicate that the government may extend the timeframe for pea imports until June, citing the current supply of Rabi pulses. This influx of peas has acted as a mitigating factor against the expected price surge due to reduced Chana supply.
However, market analysts warn that as domestic arrivals of Chana continue to decrease, the equilibrium may shift, leading to a rise in prices. The government's ongoing purchases at market prices are expected to be a driving force behind potential price hikes. If the decline in Chana supply persists, market dynamics may shift, putting upward pressure on prices.
Overall, while Chana prices are currently stable, the market's resilience faces challenges from both weather-related factors and external influences such as pea imports.
Spot chana Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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