More Stories

Informist, Tuesday, Sep 10, 2024

By Anjali Lavania

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

CHANA prices in Akola were steady at 7,775-7,800 rupees per 100 kg, according to data by the India Pulses and Grains Association. During the week ended Friday, prices of chana fell around 100 rupees per 100 kg in key markets, the association said. This was due to less buying by millers at higher rates, cheaper alternatives, and expectations of a bumper crop in Australia, the association said. 

"Millers are buying as per requirement as they have already done bulk buying," said Kailash Kakani, a Madhya-Pradesh-based trader. India imports most of the chana from Australia and a bumper crop in that country will weigh on domestic prices. The Australian Bureau of Agricultural and Resource Economics and Sciences estimates chana production in 2024-25 (Jul-Jun) to surge 171% to 1.3 mln tn.

TUR prices in the benchmark market of Akola were down 50 rupees at 9,950-11,100 rupees per 100 kg, according to data by the association. Prices in the key wholesale market of Kalaburagi in Karnataka were steady at 10,750 rupees per 100 kg, according to the data. "Overall, due to sluggish demand and huge imports of African tur, prices are being affected negatively," said Veer Kumar Kadkol, a Karnataka-based trader. Demand is only need-based at the moment and buyers are not stocking up, according to the association. 

URAD prices in Chennai (Fair Standard Quality) were steady at 8,275 rupees per 100 kg, the association said. "Kharif crops with a 75-90 day maturity period which are planted around the last week of June, get ready for harvesting in September. These crops are at increased risk of damage if heavy rains continue during this critical period," said Indrajit Paul, head of research at Agrocorp International. 

Urad, which is mainly a 90-day kharif crop, is sown during the second fortnight of June and harvested in Oct-Sep. For September, the India Meteorological Department has forecast above-normal rainfall across India, exceeding 109% of the long period average. The kharif urad harvest is expected to commence in October across key states such as Madhya Pradesh, Rajasthan, and Uttar Pradesh.  End

Edited by Avishek Dutta

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

Informist Media Tel +91 (22) 6985-4000 

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2024. All rights reserved.