Mumbai, 19 Mar 2024 (Commoditiescontrol): Kabuli chana (chickpea) prices made a sharp recovery in container trade today despite an increase in arrivals compared to the previous trading session. While daily arrivals have shown growth, the average daily arrival hasn't increased correspondingly, indicating farmers might be holding back their crops or that this season's crop size is smaller than initial estimates. Market sentiment in Indore and surrounding areas suggests further stability and potential strengthening of Kabuli chana prices.
Arrivals at the Indore mandi increased to 6,500 bags, a significant jump from the previous session's 4,500 bags.
Market analysts suggest farmers might be prioritizing the liquidation of other crops such as chilly or cotton, a strategy that could limit Kabuli chana availability and bolster prices in the near and long term.
While mandi prices remained stable, container prices experienced a substantial increase of Rs 600 per quintal. Field reports indicate a significant decrease in grain size compared to previous seasons. This has led to higher production of smaller-sized Kabuli chana and a potential shortfall in the larger sizes that are favored for export.
Overall, Kabuli chana prices are projected to remain firm. Factors contributing to this outlook include anticipated exporter demand, slower arrivals caused by farmers withholding stock, a potentially smaller crop size, and reduced market activity stemming from the Holi festival and financial year-end.
Spot Kabuli chana Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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