Mumbai, 10 Sep 2024 (Commoditiescontrol): Kabuli chana prices continued to decline for the second consecutive day, pressured by sluggish buying activity and weak export demand. In Indore, traders exercised caution as both domestic and export demand remained subdued, leading to price declines in both mandi and container trade.
In Indore, Madhya Pradesh, Kabuli chana prices fell by ₹100 to ₹200 per quintal across various calibers, with spot prices hovering around $2,000 per tonne. However, this remains higher than Mexico-origin Kabuli chana, which is being offered at $1,850 CNF Turkey, creating challenges for Indian exports.
In Delhi, the PKV2 and Mexico Double Dollar varieties saw further price drops as buyer interest waned. The shortage of premium-quality chana impacted container rates, while high domestic prices made exports unviable, despite a slight recovery in international markets where prices are still more competitive compared to India.
Meanwhile, in Mumbai, the old Sudanese-origin Kabuli chana saw moderate gains, trading at ₹8,150 per quintal, while the new crop prices remained unchanged, with no quotes available. In Maharashtra’s Jalgaon market, no quote was available for the PKV2 variety, while in the previous session, prices held steady between ₹10,200 and ₹10,400 per quintal. In Delhi, Kabuli chana from Maharashtra and Indore fell by ₹100 per quintal.
Looking ahead, Kabuli chickpea prices are anticipated to see limited upward potential. With stockists and farmers holding significant inventories, there is an expectation of increased liquidations as festival demand reaches its peak. This is likely to maintain a well-supplied market, capping any substantial price increases from current levels.
Spot Kabuli chana Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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