Mumbai, 25 Apr 2024 (Commoditiescontrol):Kabuli chana (chickpea) prices in Madhya Pradesh's major mandis (wholesale markets) have experienced a decline due to weak demand at current price points. Prices in mandis have dropped by Rs 200 per quintal, while container prices have experienced a less severe drop of Rs 100 per quintal. In response to the price decrease, arrivals of Kabuli chana have decreased.
The Indore mandi reported arrivals of 4,000 bags, representing a decrease from the previous session's 6,000 bags. Total arrivals in the state's Kabuli growing regions were estimated at 20,000-22,000 bags, a decline of 10,000 bags from the previous trading session.
Market analysts expect that Kabuli chana prices will likely remain rangebound in near term. The ample supply of short-caliber Kabuli chana, favored for the domestic market, coupled with the substantial crop this season suggests price increases are unlikely. While large-caliber Kabuli chana is limited, reduced export due to competion from Canada and Mexico in export markets offsets any upward price pressure. Stockists may enter in market at lower prices to increase inventory ahead of domestic festivals, which begin in August.
Spot Kabuli chana Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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