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Chana trade weak at select market on cautious buying at higher rates

30 Nov 2022 7:31 pm
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Mumbai, 30 Nov (Commoditiescontrol): Chana price declined by Rs 25-50/100Kg at select market, such as Delhi, Jaipur, Akola and Raipur on cautious mills participation at higher rates as offtake in dal-besan was witnessed limited despite ongoing marraige occasion.

Similarly, Tanzania origin Chana eased by Rs 25 at Rs 4,350-4,550/100Kg at Mumbai due to thin mills trade as quality contain 6 to 6.5 kg soil (Matti) and also regular selling of old procured stock by government agency.

Moreover, Chana dal prices eased marginally at Rs 5,750/100Kg at Jaipur amid low offtake.

On other hand, Price of 40-42, 42-44 & 44-46 count Kabuli Chickpea moved higher by Rs 200/100Kg each at Indore on fresh trade and tight availability of stock. Sellers were inactive in the market.

At Indore, 42-44 count kabuli Chickpea was quoted at 1700 FOB basis for Nhava-sheva/Mundra and 44-46 count kabuli Chickpea was quoted at 1675 FOB basis for Nhava-sheva/Mundra.

Chana price can find further support for short term period due to less availability of good quality Chana, expectation of lower sowing acreage this year, slow selling by Nafed in Maharashtra and higher bid price to purchase Nafed Chana tender in Rajasthan. Hopes of Government approving trading in futures market could help in bulding optimism. But, overall, Chana prices are unlikely to sustain at higher rates as farmers, the stockiest and the government hold adequate stock. Regular selling by government to create sufficient storage capacity before the start of the next Rabi season and stockiest-trader at every rise will restrict up move in price.

Spot Chana Prices In Key Indian Markets:

(By Commoditiescontrol Bureau; +91-22-40015513)

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