Mumbai, 12 Mar 2024 (Commoditiescontrol):Kabuli chana prices in Indore and surrounding markets remain firm, supported by strong demand despite recent price corrections. Declining arrivals are a key factor; a sharp drop in prices has led to a significant reduction in market arrivals.
In Indore mandi, prices increased by Rs 500 per quintal as arrivals fell to 7,000 bags from 11,000 the previous session. Container prices also rose by Rs 500 per quintal across the board. Harvesting is approaching its peak, but financial year-end pressures and the upcoming Holi festival are expected to keep arrivals low in the near term.
The anticipated slowdown in arrivals, coupled with ongoing Ramadan demand, suggests the potential for further Kabuli price increases. Additionally, prices have already corrected by almost 40% from recent highs, which could attract stockist and trader buying, further bolstering a potential recovery.
Spot Kabuli chana Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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