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Informist, Monday, Oct. 7, 2024

 

MUMBAI – Prices of chana are likely to increase this week as traders expect demand to rise before the Vijayadashami-Diwali festivals, the India Pulses and Grains Association said in its weekly outlook. The start of rabi sowing could also boost the demand for chana seeds, supporting prices.

 

Market participants will also closely monitor the weather in Australia, where harvest is ongoing. So far, crop performance in Australia has been poor due to late emergence, dry winter, and early spring, the report said. Severe frost has also caused damage in large grain-producing areas, and farmers have started assessing the damage to take necessary precautions to prevent further damage.

 

The harvest area for lentils is expected to shrink due to a lack of rain and frost damage, with many crops likely to be grazed or cut for hay, according to the pulses body. Concerns over lower yield could aid prices.

 

However, the rise in prices might be limited due to imports of chana in November and December, along with the availability of cheaper yellow peas, the report said. In August, Australia exported 17,884 tonnes of chickpeas, the report cited data from the Australian Bureau of Statistics. Exports increased 35% on month, as traders and farmers were eager to offload their chickpea stocks before the new harvest begins in Queensland, the report said. Australia is one of the largest exporters of chana to India.

 

Meanwhile, the Department of Consumer Affairs allocated 300,000 tonnes of chana from its buffer stocks to government agencies for sale under the Bharat Brand till Dec. 31, according to a consumer affairs ministry document shared by the India Pulses and Grains Association. 

 

In the week ended Saturday, chana prices fell due to lower-than-expected demand for chana dal and besan, prompting mills to buy less, even with the ongoing festival season, the association said. Stockists and farmers increased their selling as new arrivals of soybean, urad, and maize hit the market, adding to the pressure on prices. Moreover, expectations of higher production of chana in Australia, and lower prices for chana shipments arriving in November and December have hurt market sentiment.

 

In the week ended Saturday, chana prices in Indore, Madhya Pradesh, were down by INR 200 from a week ago at INR 7,500 per 100 kg, according to the report. Similarly, prices of chana in Bikaner, Rajasthan, were down by INR 100 from the previous week at INR 7,600-INR 7,650 per 100 kg.  End

 

Reported by Shreya Shetty

Edited by Namrata Rao

 

 

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