Mumbai, 10 Apr 2024 (Commoditiescontrol):he price of chana (chickpeas) has experienced a sharp increase in domestic markets. This surge is attributed to slow arrivals in domestic mandis (wholesale markets). Many mandis remain closed following the Holi holiday due to local festivals and other reasons, resulting in reduced supply.
The limited supply, coupled with an empty pipeline, has fueled a significant price hike. This marks the third consecutive day of rising chana prices.
Market analysts predict that the chana price trend in the coming days will hinge on the pace of arrivals in domestic mandis within the key production states of Maharashtra, Madhya Pradesh, and Rajasthan. Another crucial factor influencing prices will be government purchases at market prices.
Currently, the government has not made substantial purchases to replenish its buffer stock. Experts warn that without a buffer stock, the government may struggle to control prices later in the season, especially when the Indian festival season begins in August. This concern is heightened by the existing lower yields of tur (pigeon peas) and chana crops.
Spot Chana Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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