Mumbai, 15 Apr 2024 (Commoditiescontrol):Kabuli chana prices in Indore declined in container trade due to a surge in arrivals and softening demand and subpar quality arrivals. Mandi trade prices, however, showed stability within a range of Rs 9,500-11,000 per quintal, reflecting quality variations.
Arrivals at the Indore mandi reached approximately 8,000 bags, substantially higher than the previous session's 1,500. Total arrivals in Madhya Pradesh's Kabuli growing belts are projected to reach 50,000 to 52,000 bags, up 10,000 to 12,000 bags.
Container prices are weakening as export demand wanes post-Ramadan. Competition from Canadian and Mexican suppliers in the large-caliber kabuli market, coupled with escalating Middle East tensions, further erode export prospects.
Kabuli prices are likely to remain under pressure in the near term due to ample supply and sluggish export demand as mandi operations normalize post-Holi. However strong domestic demand for small-caliber kabuli could provide some price support.
Spot Kabuli chana Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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