Mumbai, 24 Apr 2024 (Commoditiescontrol): Kabuli chana (chickpea) prices in major Madhya Pradesh markets have seen a decline of Rs 200-300 per quintal as demand weakens. Traders cite reduced container orders for the drop in prices.
The decrease is most noticeable in large-caliber Kabuli chana, which has seen a Rs 200 per quintal drop, while smaller calibers have fallen by Rs 100 per quintal. Increased supply from Mexico, a major producer of large-caliber chickpeas, is also putting downward pressure on domestic prices.
Arrivals at the Indore Mandi were recorded at 3800 quintals, while overall arrivals across Madhya Pradesh's Kabuli chana growing regions reached 25000 quintals – significantly higher than yesterday's 10000 quintals.
Export demand for Indian Kabuli chana to the Gulf region remains slow due to competition from Mexico and Canada. Canadian Kabuli chana prices for 9mm and 7mm were stable at USD 870 and USD 760 per MT FOB, respectively.
Market experts predict that Kabuli chana prices will likely remain range-bound in the near future. Ample supply of short-caliber Kabuli chana, typically used for domestic consumption, exists due to this season's large crop resticting any major up side . While the supply of large-caliber Kabuli chana is lower, weaker export demand from Canada and Mexico offsets this. Stockists may show interest at lower price levels to build inventory ahead of domestic festival demand starting in August.
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(By Commoditiescontrol Bureau; +91-9820130172)
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