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Informist, Tuesday, Oct. 8, 2024

By Shreya Shetty

MUMBAI – Prices of chana and tur continued to fall in key spot markets across the country as sluggish demand persisted, traders said. Prices of masur were temporarily up, they said.

CHANA prices in Vidisha, Madhya Pradesh, were down by INR 100 from Monday at INR 7,300-INR 7,400 per 100 kg, Dinesh Mangal, a local trader said. "Festival demand has not picked up as expected," he said. Stockists have bought chana in bulk and the festival needs are already met, he added. Prices may remain in the lower range, or even fall further in the next few days, as the government will offload chana at subsidised rates, and buyers will hold back in anticipation of cheaper Australian imports—expected in November--he said.

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

Prices of chana in Akola, Maharashtra, also fell by INR 100 from Monday to INR 7,475-INR 7,500 per 100 kg, according to the association. Arrivals were steady at 800 bags (1 bag = 50 kg).

TUR prices in Akola were down by INR 100 from Monday at INR 10,250-INR 10,300 per 100 kg, Ashok Gupta, a local trader said. Arrivals were steady at 800 bags (1 bag = 50 kg). "Demand for tur is not expected to increase any time soon," he said. Demand may continue to be low for the week in anticipation of the new crop at the end of November, he said. The new tur crop arrivals are expected to be robust, which will lower prices even further, he said.

Stockists and importers are likely to remain active sellers in preparation for a bumper domestic crop expected by the end of November, the association said in its weekly report. Tur production is estimated at 3.4 million tonnes, up 3.17% from last year's 3.3 million tonnes, according to final estimates for 2023-24 (Jul-Jun) released by the Ministry of Agriculture and Farmers' Welfare on Sept. 25.

Prices of tur in the key market of Kalaburagi in Karnataka were steady at INR 9,002-INR 11,211 per 100 kg, according to the association. Arrivals were down by 402 bags at 880 bags (1 bag = 50 kg).

MASUR prices in Vidisha were up by INR 25 from Monday at INR 5,600-INR 6,000 per 100 kg, Mangal said. Arrivals were steady at 200 bags (1 bag = 100 kg). "Demand has increased slightly, but it is temporary and is likely to remain at these levels in the coming days," he said. Most traders believe that masur prices are likely to remain at the current levels for the rest of the year and there is going to be no significant upward trend, as demand is just need-based and supply is on a par with demand.

Prices of the moti variety of masur were steady in the key wholesale market of Lalitpur in Uttar Pradesh at INR 5,600-5,800 per 100 kg. Prices of the choti variety were also steady at INR 6,100-6,400 per 100 kg, according to the association. End

Edited by Deepshikha Bhardwaj

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