Mumbai, 22 Jan (Commoditiescontrol): Kabuli chana prices continued their downward trend on Wednesday, mirroring the previous session’s performance, as selling pressure persisted in the Indore benchmark market. Weak export demand and consistent arrivals in Madhya Pradesh kept prices subdued, with stockists maintaining a liquidation strategy.
Madhya Pradesh reported total arrivals of approximately 4,000 bags, up 500 bags from the prior session. Arrivals in Indore mandi increased slightly to 1,770 bags, adding further downward pressure on prices. Weak local demand also contributed to the decline. Although domestic demand has been supported by events like the ongoing Kumbh Mela and the wedding season, steady supplies and sufficient availability have prevented any significant price recovery.
In Indore mandi, prices dropped by ₹300 for the second consecutive session, settling in the range of ₹9,500 to ₹10,700 per quintal. The container trade also weakened, with various counts seeing declines of ₹200 to ₹400 due to muted overseas inquiries.
In other markets, the PKV2 variety in Jalgaon remained steady after a recent correction, trading between ₹7,400 and ₹7,600 per quintal. Meanwhile, smaller-sized Kabuli chana varieties in Delhi, sourced from regions like Central and South India, held steady. Prices for varieties such as AP Line, Karnataka Line, Maharashtra Line, and Indore Line (Mexico Double Dollar) ranged between ₹8,500–₹9,500 and ₹11,500–₹14,500 per quintal, showing no major changes.
Domestic demand, bolstered by religious activities and festive occasions, has lent some stability to mandi prices. However, the lack of strong export inquiries has limited any significant price momentum. With the Ramadan season approaching, traders anticipate a temporary boost in demand, which could offer some relief to prices.
Looking ahead, the market focus remains on fulfilling domestic requirements while keeping an eye on the new crop, expected to arrive in the next two months. Although the Ramadan-driven demand surge may provide a short-term lift, steady arrivals and weak export participation are likely to cap significant price gains. For now, the Kabuli chana market remains balanced, with traders adopting a cautious outlook as they prepare for future developments.
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(By Commoditiescontrol Bureau; +91-9820130172)