Mumbai, 05 Apr 2024 (Commoditiescontrol):Chana prices across most major Indian mandis have stabilized, though select markets experienced price increases. Merta, Ashoknagar, and Kareli markets saw prices rise by Rs 50-250 per quintal, attributed to improved crop quality resulting from dry weather reducing moisture content in the crop.
The Indian Meteorological Department (IMD) predicts a continuation of above-normal temperatures for April, with warnings of heatwaves across major states. This suggests stable chana prices as the drier conditions maintain low moisture content.
After a rise over the previous 2-3 sessions, chana bilty prices in major North Indian markets have dipped by Rs 25-50 per quintal. Markets in Maharashtra, however, reported stable prices. Analysts point to the previous price surge as the reason for the decline in North Indian markets, combined with improved arrivals and a temporary easing of immediate demand.
The Government of India's decision to extend free imports of Matar (peas) is likely to put some pressure on chana prices in the short term.
Harvesting is nearing completion, with an estimated 80-90% of the crop already collected. The recent dry weather across key growing regions should expedite the harvesting process, likely wrapping it up within a week. Arrivals are expected to increase further, however, with lower crop yield this season and improved quality, prices may experience a slight upward trend.
Spot Chana Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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