Mumbai,03 May 2024 (Commoditiescontrol): Chana prices extended their decline on Friday due to low demand from millers and stockists as fear of government actions prompted them to stay on the sideline. Prices lost Rs 50-100 per quintal in major mandis, while consuming markets saw a drop of Rs 25-100 per quintal. Several key centers reported steady tone despite slow buying activity at lower price levels. Farmers' selling activity reported slow, following the recent price correction. This trend will support prices in the short term.
After witnessing drop in the last 2-3 sessions, prices remained stable in Delhi market for both the Rajasthan and Madhya Pradesh lines. According to local sources, after a recent price drop, sellers turned inactive, which helped prices to remain stable.
Industry experts note that strong overall demand for chana is offset by a price-induced slowdown in purchasing, leading to a stable price range. The upcoming monsoon season (starting next month) is expected to increase demand, potentially pushing prices higher. Historically, chana prices remain firm from June to September.
Spot Chana Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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