Mumbai, 12 Apr 2024 (Commoditiescontrol): Kabuli chana (chickpea) prices experienced a significant increase in Indore's benchmark market today, both in mandi and container trade. This surge is attributed to strong demand coupled with weak arrivals. Market closures following the Holi festival have hindered the revival of supply.
Prices for smaller-sized Kabuli chana have risen more sharply compared to larger calibers. Demand for larger sizes has reportedly stagnated due to increased production in Mexico, a major producer of large and medium-sized chickpeas. This will likely affect India's export prospects for large-caliber Kabuli chana.
While India has produced a higher volume of smaller calibers this season as a result of weather patterns, the domestic market is demonstrating high demand for these smaller-sized chickpeas keeping price firm.
Arrivals at the Indore mandi today were approximately 6,500 bags, representing an increase from the previous session's 3,500 bags. Arrivals in Madhya Pradesh's Kabuli chana growing regions are projected to reach between 40,000 and 42,000 bags, showing an increase of 10,000 to 12,000 bags.
Arrival volumes are expected to normalize starting next week, boosting supply. However, with the end of Ramadan demand and a continued weakness in export prospects, a potential price correction for Kabuli chana is anticipated.
Spot Kabuli chana Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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