Mumbai, 16 May 2024 (Commoditiescontrol):Chana prices have continued their upward climb due to strong demand from stockists and end users, exacerbated by tight supplies. Local traders report that sellers are hesitant to release their stocks at current prices, fueling the price surge. Expectations of government procurement at market rates are contributing to this bullish sentiment.
In Delhi, prices have risen by Rs 100 per quintal across both Rajasthan and Madhya Pradesh lines, driven by increased demand for processing products. Even in Kanpur, where sellers are holding back, market prices remain high due to sustained demand for processing goods.
Mandi prices have generally remained stable to firm, with variations depending on the quality of arrivals. Dewas and Kareli have seen price increases due to the arrival of higher quality stocks. Additionally, low arrivals and stockists' reluctance to sell have contributed to price stability.
Market forecasts predict an imminent price surge as government procurement efforts influence market sentiment. However ample supply of yellow peas will limit any major gains.
Spot Chana Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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