Mumbai, 02 Jul 2024 (Commoditiescontrol): Chana prices have extended their decline in the major consuming centre - the Delhi market, falling by Rs 25 per quintal for both Rajasthan and Madhya Pradesh lines due to weak demand. Prices in Delhi have once again remained below key level of Rs 7,000 per quintal, to trade in the range of Rs 6,900 to Rs 6,975 per quintal. Additionally, processors have shifted their demand to matar, which is currently cheaper than Chana.
As regards international trade, in Mumbai, CNF quote was not available for for Tanzanian origin chana, while Australian origin chana remained steady at USD 915 per metric tonne. Imported chana of Tanzania quoted Rs 50 lower at Rs 6,250 quintal while Australian chana offered Rs 100 weak at Rs 6,900 per quintal. Prices of all expenses paid (Bilty) Desi chana have lost between Rs 25-75 at major trading centres. At Jaipur market Desi Chana quoted Rs 75softer due to a lack of buyer interest.
Prices in Maharashtra have decreased by Rs 50-75 per quintal. The market expects prices to remain range-bound with a downward bias. However, constrained supply due to poor production may limit any major price fall.
Moreover, with declining arrivals and limited quantity left with farmers, prices may not witness a sharp decline. The market is expected to remain subdued in the short term. On the other hand, the ample supply of matar at significantly discounted prices is anticipated to considerably reduce demand for chana.
Spot Chana Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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