Mumbai, March 25th (Commoditiescontrol): During the week ending on March 25th, 2023, the price of Kabuli Chickpeas increased due to high demand in domestic and export markets. Buyers from northern regions such as Uttar Pradesh, Bihar, Delhi, and Himachal Pradesh and those from the southern areas were actively purchasing. Additionally, there was a steady demand for exports from Gulf countries, Turkey, and Sri Lanka, with around 300 containers being shipped, further contributing to the price hike.
The price of Kabuli Chickpeas varieties 42-44 count and 44-46 count went up by Rs 300 per 100 kilograms each at the benchmark market of Indore. Likewise, the Free on Board (FOB) price for Kabuli Chickpeas with counts of 42-44 and 44-46 also increased by $65, reaching $1,480 per metric ton and $1,445 per ton, respectively, which is an increase of $55.
As per technical chart - Kabuli Chana (Indore) - correction underway / next support at Rs 10,500. Click here
Trend: The price of Kabuli Chickpeas is expected to increase in the coming week due to high demand in both northern and southern domestic markets. In addition, consistent demand for exports from Gulf countries, Turkey, and Sri Lanka is expected to maintain this positive trend. As the domestic market will be closed for the financial year end, fewer arrivals are anticipated, which could support the prices. However, given the bumper crop, this price hike is expected to be limited. The current price increase may end once the arrival improves in April's first or second week.
(By Commoditiescontrol Bureau; +91-9820130172)
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