Mumbai, 19 Mar 2024 (Commoditiescontrol):Chana (chickpea) prices in major Indian markets have declined following a brief upward trend. Increased arrivals due to favorable weather, and reduced mills demand are the primary factors behind this price correction.
Recent dry conditions have boosted chana arrivals in major markets. Buyers, having fulfilled their immediate needs, are less active, further contributing to the downward trend. Mandi prices, currently near the Minimum Support Price (MSP), are falling, potentially leading to even higher arrivals. Additionally, reduced demand from besan (gram flour) manufacturers adds to the easing of chana prices.
Harvesting is in full swing across India's main chana-growing regions, including Madhya Pradesh, Rajasthan, and Uttar Pradesh. Favorable weather has accelerated the process while enhancing crop quality. With arrivals expected to surge, additional downward pressure on prices is likely. However, a significant reduction in chana production this year may provide a floor to price declines.
Spot Chana Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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