Mumbai, 13 Mar 2024 (Commoditiescontrol): Chana prices have shown strength in major mandis across India after a period of weakness. Strong demand at lower price levels has contributed to the rise, and the upcoming Holi festival and ongoing Ramadan is expected to keep prices stable in the near future.
Prices in Delhi saw an increase of Rs 25 per quintal for supplies from Rajasthan and Madhya Pradesh. Additionally, major markets in Jaipur and Indore reported substantial price hikes of Rs 100 per quintal.
Market analysts expect chana prices to remain steady in the near term, primarily driven by festive demand. As harvesting reaches its peak in Madhya Pradesh and Uttar Pradesh, key growing states, the recent dry weather has accelerated the process. Despite this, arrivals are expected to be staggered, contributing to price stability.
The expected lower crop yield due to weather conditions is another factor supporting stable prices in the short term. However, potential government intervention could possibly limit any further price increases.
Spot Chana Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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