Mumbai, 11 April 2024 (Commoditiescontrol):The price of Kabuli chana (chickpeas) has increased in both mandi and container trade in Indore, fueled by strong demand and lower arrivals. Arrivals at the Indore mandi today were approximately 3,500 bags, a decrease from 4,700 bags in the previous session. Overall, arrivals in Madhya Pradesh's Kabuli growing regions are estimated to be between 30,000 and 32,000 bags, a decline of 20,000 to 25,000 bags.
In Indore, mandi prices rose by Rs 200/quintal, while container trade prices increased by Rs 100/quintal for large-caliber Kabuli where as small caliber kabuli rose by Rs300/quintal. The slower price increase for large-caliber beans is attributed to reduced export demand, with international buyers shifting to Mexico and Canada due to better quality and competitive prices. Smaller calibers saw a greater price increase due to robust domestic demand.
Maharashtra-origin PKV2 and Indore dollar chana prices also rose by Rs 200/quintal in the Delhi market, reflecting strong demand.
Analysts anticipate Kabuli chana prices to remain range-bound despite strong demand, especially for smaller calibers. Ample supply due to a larger crop size is expected to balance the demand. Additionally, export demand is lower than expected, capping the price of large-caliber Kabuli. As domestic demand slows post-Eid and arrivals increase after mandi closures due to holidays, any significant price increase from current levels is unlikely.
Spot Kabuli chana Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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