Mumbai, 19 Apr 2024 (Commoditiescontrol):Kabuli chana (chickpea) prices in major Indian markets remained stable for the second consecutive session, defying expectations of a decline due to a surge in arrivals. Robust demand, fueled by the exceptional quality of this year's crop, has effectively balanced out the increased supply.
As per trade sources arrivals of Kabuli chana in various mandis of Madhya Pradesh reached approximately 28,000 quintals on Friday. Indore Mandi received 5,000 quintals, followed by Dhamanod (5,130 quintals), Karhi Mandi (2,250 quintals), Sendhwa (2,700 quintals), Anjad Mandi (1,700 quintals), Dewas (700 quintals), and Badnagar Mandi (700 quintals). Other mandis across the state accounted for the remaining arrivals.
According to trade sources, farmers hold ample supplies of Kabuli chana, suggesting that market arrivals could rise further in the coming days. However, traders and stockists are showing strong demand for high-quality Kabuli chana which should keep price supported.
Market analysts anticipate that Kabuli chana prices will likely remain stable in the near future. While plentiful supplies of smaller-sized Kabuli chana are catering to strong domestic demand, the limited availability of larger-sized varieties favored for export persists. Additionally, export demand is currently sluggish due to competition from Mexico and Canada, as well as geopolitical tensions in the Middle East, a primary market for Indian Kabuli chana.
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(By Commoditiescontrol Bureau; +91-9820130172)
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