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Informist, Monday, Sep 9, 2024

By Anjali Lavania

MUMBAI – Prices of chana fell today, while those of tur were steady in Akola, Maharashtra, traders said. Prices of urad were steady in the benchmark market of Chennai, they said.

CHANA prices in Akola fell by 25 rupees to 7,775-7,800 rupees per 100 kg, according to data by the India Pulses and Grains Association. Prices fell due to lowr purchases by millers at higher rates, cheaper alternatives, expectations of higher production in Australia, and lower future shipment offers, the association said in its weekly outlook report today. Buyers are a bit careful due to speculation that the government might release reserve stocks or change import duties on lower-grade chickpeas used for besan production, the report said.

"Currently, the sluggish demand for besan is pushing down the prices of chana," said Kailash Kakani, a Madhya-Pradesh-based trader. Buyers are now buying cautiously and not goig for bulk buying, he said. 

TUR prices in the benchmark market of Akola were steady at 10,000-11,000 rupees per 100 kg, according to data by the association. Similarly, prices in the key wholesale market of Kalaburagi, Karnataka, were steady at 10,750 rupees per 100 kg, according to the data. "High quantities of tur imports from Africa may cause prices to fall in the long run," said Veer Kumar Kadkol, a Karnataka-based trader. "Prices will depend on the supply and cost of African tur, as well as Sep-Oct rains and weather during the flowering stage for the domestic tur crop," the association said.

URAD prices in Chennai (Fair Standard Quality) were steady at 8,275 rupees per 100 kg, the association said. "Looking ahead to the medium term, urad prices are anticipated to rally due to potential harvesting delays and concerns over crop damage from above-normal rainfall in key producing areas. Additionally, millers' demand-driven purchases for the festival season could further contribute to this price rally," said Indrajit Paul, head of research at Agrocorp International. 

The India Meteorological Department has forecast above-normal rainfall across India, exceeding 109% of the long period average, in September. This poses a threat to the urad crop in major growing states such as Madhya Pradesh, Maharashtra, Rajasthan, Gujarat, and parts of Uttar Pradesh, particularly if heavy rains result in waterlogging in low-lying areas, Paul said.

The National Agricultural Cooperative Marketing Federation of India Ltd on Saturday approved bids to sell 894 tn and 760 tn moong to Rajasthan and Madhya Pradesh at 7,456 rupees per 100 kg and 7,802 rupees per 100 kg respectively, according to a market update by the association.  End

Edited by Avishek Dutta

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