Mumbai, 24 Apr 2024 (Commoditiescontrol):Chana (chickpea) prices in India's major wholesale markets (mandis) have extended their recovery trend today, following a sharp decline last week. The price upswing, which began yesterday, shows continued momentum with reports indicating gains of Rs 50-100 per quintal.This was due to slow down in arrival in open market and good demand in Chana dal.
Trade sources attribute the sustained recovery to increased buying activity at lower price points, coupled with a marked decline in arrivals across key markets. Government procurement at the Minimum Support Price (MSP) in Rajasthan has further bolstered prices.
Rajasthan, a significant chana producer, has seen a surge in arrivals. Despite this, MSP purchases and buying interest from village-level traders have prevented a price downturn.
While increased availability of imported peas and expectation if increase in domestic supply from Rajasthan initially exerted downward pressure on prices, recent government purchase at MSP has supported the recovery from lower levels.
Spot Chana Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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