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Informist, Monday, Sept. 30, 2024

 

MUMBAI – Prices of chana are likely to rise ahead of Navratri festival due to increased demand for the commodity from millers and for its seed as sowing for the rabi season will begin, the India Pulses and Grains Association said in its weekly outlook. 

 

Limited availability of stock amid a further rise in demand for chana seeds in anticipation of better returns from crops is also likely to support prices, according to the report. Moreover, after the festival season, demand will remain firm during the wedding season and support prices in the long run, the report added.

 

However, chana imports from Australia, due to arrive in November, could cap a rise in prices. In Central Queensland, the harvest of desi chickpeas, barley, and wheat has begun with good crop quality, the report said. Frost damage has significantly reduced crop estimates for cereals, canola, and lentils, with expected losses of 30-40% in affected areas, the report said. Bulk buyers are looking to ship chickpeas to major ports for export. Australia is one of the largest exporters of chana to India.

 

Availability of cheaper yellow peas could also weigh on chana prices. Yellow peas are used as a cheaper alternative to chana. 

 

Prices of chana stayed low in the week ended Saturday due to less demand for dal and besan during Pitru-Paksha. Pitru-Paksh is a 16-day lunar period which began on Sept. 17 and ends Wednesday. Prices were also low as rainfall at major trading hubs slowed buying and some sellers in Madhya Pradesh offloaded chana stocks as soybean, urad, and maize arrivals began, the report said. Demand for chana seeds was low due to ongoing rains, delayed kharif harvesting, and potential delay in rabi sowing, which weighed on prices.

 

In the week ended Saturday, chana prices in Indore, Madhya Pradesh, were down by INR 50 from a week ago at INR 7,725-7,750 per 100 kg, according to the report. Similarly, prices of chana in Bikaner, Rajasthan, were down by INR 75 from the previous week at INR 7,540-7,450 per 100 kg.  End

 

Reported by Shreya Shetty

Edited by Deepshikha Bhardwaj

 

 

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