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Informist, Wednesday, Oct. 9, 2024

By Shreya Shetty

MUMBAI – Prices of chana and tur continued to move southwards across key spot markets in the country Wednesday on muted demand and higher availability, traders said. Prices of urad were steady after a slight temporary rise, they said.

CHANA prices in Akola in Maharashtra fell INR 75 to INR 7,400-7,450 per 100 kg on Wednesday, Ankit Kedia, a local trader said. Arrivals rose by 300 bags to 500 bags (1 bag = 50 kg). "Demand has not risen as much as it was expected to," he said.

Arrivals in the market have increased as stockists and farmers are offloading chana stocks in fear of a further fall in prices, which is weighing on prices, Kedia said. Availability of yellow peas is also hurting the demand for chana in the northern parts of the country, he said. Yellow pea is used as a cheaper substitute for chana as its flour can be mixed into besan. 

Prices of chana in Indore in Madhya Pradesh declined INR 50 to INR 7,325-7,350 per 100 kg, according to India Pulses and Grains Association.

TUR prices in Akola fell INR 50 from Tuesday to INR 10,050-10,100 per 100 kg, Kedia said. Arrivals were up by 200 bags to 1,000 bags (1 bag = 50 kg). "Tur prices may continue falling for the rest of the week," he said. Need-based buying had kept prices steady previously, but even that has stopped, he said. Cheaper imports from African nations are also hurting prices of domestic tur, Kedia said.

Lower-priced imports from Burma and Africa have kept domestic prices under downward pressure, the association said in its weekly report on Monday. Forward quotes for African tur are low as purchases are limited, the association said, adding that weakening demand is putting additional pressure on domestic prices.

Prices of tur in the key market of Kalaburagi in Karnataka were down INR 200 from Tuesday at INR 9,005-10,965 per 100 kg, according to the association. Arrivals were up by 390 bags at 1,270 bags (1 bag = 50 kg).

URAD prices in Jalgaon in Maharashtra were steady at INR 8,300-8,400 per 100 kg, Prem Kogta, a mill owner said. "Prices had previously risen slightly as the new crop arrivals from Maharashtra and Karnataka slowed down," he said. However, prices have now stabilised and will remain steady for some time, he said.

Prices of urad in Lalitpur in Uttar Pradesh were steady at INR 6,000-8,300 per 100 kg, according to the association. Arrivals were up by 1,000 bags at 6,000 bags (1 bag = 50 kg). End

Edited by Saji George Titus

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