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Week Ahead: Chana prices may get support on low level purchase

22 May 2022 12:27 am
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MUMBAI, 21 May (Commoditiescontrol) Chana prices widened losses for the week ended on 21st May 2022 amid thin buying from mills. Offtake from meals was reported to be weak due to below-average in demand for chana dal and besan on one hand and ample supply from ongoing arrivals on the other hand.

According to the Government’s third advance estimates for 2021-22, Chana production is estimated higher at 139.8 lakh tonnes against the 2020-21 final estimates of 119.1.

Maharashtra new Chana (desi) offered at Rs 4,650/100Kg for Mumbai delivery-3% cash discount.

Gujarat new Chana (desi) offered at Rs 4,650/100Kg for Mumbai delivery.

As on May 21, 2022, NAFED has procured 12,32,736 MT of Chana at MSP of Rs 5,230 under PSS during the 2022 Rabi season. Maharashtra: 5,68,151 MT, Karnataka:73,903 MT, Gujarat: 5,20,412 MT, Andhra Pradesh: 62,670 MT and Uttar Pradesh: 7,600 MT.

As on May 21, 2022, FCI has procured 57,912 MT of Chana in Maharashtra at MSP of Rs 5,230 under PSS during the 2022 Rabi season.

Bulk buyers and stockists continue to remain inactive.

At Indore, Chana prices are priced lower by Rs 50 at Rs 4,800-4,850/100Kg.

In Mumbai, Tanzania Chana, traded flat at Rs 4,300/100Kg.

Sudan Kabuli Chickpea's new crop ruled unchanged at Rs 5,600-5,700/100Kg.

Similarly, Indore Kabuli Chana 42-44 & 44-46 count remained flat each to Rs 100,00/100Kg and Rs 9,800, respectively on low-level buying.

Trend: Buying in Chana may witness at lower rates in near term on hopes of demand for Chana dal-besan from the retail segment. Movement of Rs 100-200/100Kg expected in near future. Overall, Chana prices are expected to rule below MSP in the coming months because of bumper output and sufficient stocks with the government due to ongoing procurement at MSP. This will discourage the stockists to take new exposure in Chana.








(By Commoditiescontrol Bureau; +91-22-40015513)


       
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