Mumbai, 30 April 2024 (Commoditiescontrol):The chana (chickpea) market has experienced a downturn in prices as elevated prices have weakened demand. Meanwhile, government measures targeting stockpiling have prompted stockists to begin selling their holdings. These factors have contributed to recent price fluctuations.
In Delhi's markets, this trend is evident. Prices for the Rajasthan variety of chana decreased by Rs 25 per quintal, settling at Rs 6,475, while Madhya Pradesh chana prices held steady at Rs 6,425 per quintal.
Industry experts note that while overall demand for chana remains strong, high prices have dampened immediate purchasing activity. Furthermore, the government's scrutiny of potential hoarding practices has triggered inventory releases, further easing market pressures.
Analysts highlight the availability of imported matar (peas), a substitute for chana, as a factor moderating price increases. This year's smaller crop yield could also limit further price declines, sustaining demand despite higher price levels. Market watchers expect chana prices to continue fluctuating within a broad range as these factors play out.
Spot Chana Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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