Mumbai, 26 June 2024 (Commoditiescontrol):Chana prices in major markets have shown a positive trend, driven by robust demand from dal mills. This surge comes as offtake in dal and besan is expected to increase with falling temperatures across the country as the monsoon covers the entire nation. Sellers, meanwhile, have remained inactive.
Following a recent price correction caused by the imposition of stock limits, buyer activity has intensified, leading to a significant price increase in Delhi. Prices for both Madhya Pradesh and Rajasthan lines have risen by Rs 125 per quintal, now standing at Rs 7,025-7,050 per quintal.
Local sources report that demand was robust before the stock limit imposition and has surged again after the recent price drop. Major mandis across Maharashtra, Rajasthan, and Madhya Pradesh have seen stable to firm prices, with some mandis experiencing an increase. Traders attribute this to the low supply, which has supported the price levels.
As demand continues to rise, prices are expected to follow suit. However, supply remains extremely limited due to poor production and stockiest and farmer holding back their stock. The government's limited stock of chana dal, sold at discounted rates should also support the prices. Nonetheless, the ample supply of low-priced matar is expected to cap any major gains in chana prices.
In summary, the chana market is currently experiencing a bullish trend driven by strong demand and constrained supply. Prices are likely to remain supported in the near term, although the availability of cheaper alternatives like matar could limit substantial increases.
Spot Chana Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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