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Informist, Monday, Oct. 7, 2024

By Shreya Shetty

MUMBAI – Prices of chana and tur were down in key spot markets in the country due to sluggish demand and higher imports, traders said. Prices of moong were steady, they said.

CHANA prices in Indore in Madhya Pradesh were down INR 100 from Friday to INR 7,550 per 100 kg, Kailash Kakani, a local trader said. "Ample supplies of cheaper imported chana from Australia amid sluggish demand is weighing on prices. Demand did not pick up despite the ongoing festival season," he said. Prices will remain in the same range if cheaper imports from Australia continue throughout the month, he said. 

In August, Australia exported 17,884 tonnes of chickpeas in total, of which 8,037 tonnes were to India, the India Pulses and Grains Association reported, citing data from the Australian Bureau of Statistics. Exports increased 35% on-month, as Australian 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.

Prices of chana in Akola in Maharashtra were, however, steady at INR 7,575-INR 7,600 per 100 kg, according to the association.

TUR prices in the benchmark market of Kalaburagi in Karnataka were down by INR 100 from Friday at INR 9,200-INR 11,212 per 100 kg, the association said. Arrivals increased by 447 bags to 1,282 bags (1 bag = 50 kg). However, prices were steady in Akola at INR 10,400-INR 10,425 per 100 kg, the association said.

Tur prices are likely to continue to move down due to weak demand and anticipation of higher production on account of an increase in kharif tur sowing compared to last year, the association said in its weekly outlook on Monday. Increasing imports of cheaper tur from Africa is also likely to weigh on prices, it said. 

MOONG prices in Akola were steady at INR 6,000-INR 8,200 per 100 kg, Kirit Mantri, a local trader said. "Prices fell last week and have now stabilised in the lower range," he said. Prices varied depending on the quality of moong, with the lower grade moong selling for INR 6,000 per 100 kg, while the superior, polished quality sold in the range of INR 8,000 per 100 kg to INR 8,200 per 100 kg, he said. The quality of moong deteriorates when it has a high moisture content.

Prices of moong in Kalaburagi were also steady at INR 6,500-INR 8,000 per 100 kg, according to the association. Arrivals were steady at 4,000 bags (1 bag = 50 kg). End

Edited by Saji George Titus

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