Mumbai, 21 Mar 2024 (Commoditiescontrol):ndore's Kabuli Chana prices held steady in major mandis and neighboring markets despite a rise in arrivals. Good demand cushioned the impact of increased supply, with arrivals at the Indore mandi reaching 8,000 bags, up from 6,500 in the previous session. However, trading activity has slowed down in anticipation of the Holi festival and the financial year-end.
This slowdown in trading has impacted container prices, which have dropped by Rs 100 per quintal across all grades. This decline follows a previous drop of Rs 100-200 per quintal. Rumors of Mexico crop size almost doubble as comapred to last year are further contributing to the downward pressure on container prices.
Market analysts expect prices to remain range-bound in the near term. While prices have experienced a sharp correction since the beginning of the season, the market has likely factored in factors such as the large crop size and weaker export demand. This could provide some price support. On the other hand, lack of immediate demand (as Ramadan demand is almost over) and steady domestic crop arrivals will likely prevent any significant upward price movement.
Spot Kabuli chana Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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