Mumbai, 14 May 2024 (Commoditiescontrol): Chana prices experienced a mixed trend in major mandis on Tuesday, reflecting a complex interplay of factors influencing the pulse market. While prices dipped in Delhi and Rajasthan due to subdued demand at higher levels, Kanpur and Indore markets bucked the trend, registering gains following their closure for elections the previous day.
In Delhi, Rajasthan and Madhya pradesgh line chana prices declined by Rs 25 per quintal, settling at Rs 6625/quintal and Rs 6600/quintal respectively, as buyers hesitated at elevated price points. A similar scenario unfolded in Rajasthan, with major markets experiencing downward pressure on prices. However, the Kanpur and Indore markets saw an uptick in prices, with Katewala chana (bilty) in Indore quoted at Rs 6,350/6,600 per quintal, a Rs 50 increase.Similarly ,Jaipur market desi chana (bilty) trading Rs 75 lower at Rs 6,575/6,627 per quintal.
Merta mandi desi chana, on the other hand, saw a Rs 201 increase, reaching Rs 5,800/6,151 per quintal. In Kota mandi, desi urad was offered Rs 150 cheaper at Rs 6,300/6,500 per quintal.
The decline in mandi prices has been primarily attributed to weakened demand in the face of higher prices, despite limited arrivals. Stockists, anticipating a potential price rebound, have refrained from selling their holdings, effectively putting a brake on a more drastic price drop.
Market sentiment continues to be shaped by expectations of government procurement, which is expected to bolster prices in the coming days. However, industry experts predict that Delhi market prices are unlikely to breach the Rs 7,000 per quintal mark in the short term, as profit booking is anticipated to begin at these levels.Further ample supply of matar will also limit any major gains.
Spot chana Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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