Mumbai, 12 Apr 2024 (Commoditiescontrol):Contrary to market expectations, the domestic chana market experienced an upward price trend following a recent government directive on stock disclosure. This move came after a minor decline in select markets like Delhi and Nagpur yesterday. Chana arrivals have remained considerably lower since the Holi festival market closure. Lower arrivals and robust demand continues to drive prices upwards.
Major markets saw chana prices increase within a range of Rs 50-150/quintal. The only exception was Kanpur market, where prices declined by Rs 50/quintal, reversing some gains registered yesterday.
Tracking the gains in raw chana prices, chana dal prices also saw increases in select markets.
Since the Holi festival, chana prices have risen sharply by about 6% or Rs 375/quintal. This increase is primarily attributed to lower arrivals in the mandi. However, arrivals are expected to improve in the coming days as mandi operations normalize. This improvement, along with the potential for government intervention, may limit speculative buying and curb demand after the end of Ramadan, capping the upside trajectory for chana prices. Additionally, an ample supply of matar (peas) will likely contribute to this price stabilization.
Spot Chana Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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