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Informist, Tuesday, Oct. 15, 2024

MUMBAI – Prices of chana and tur continued to fall in certain spot markets, while holding steady in others across the country, traders said. Prices of moong and masur were also steady Tuesday, they said.

CHANA prices in Indore, Madhya Pradesh, were down by INR 50 from Monday at INR 7,375-INR 7,400 per 100 kg, Raja Jain, a local trader, said. "Prices have been falling over the past few weeks, but they are expected to stabilise soon," he said, with festival demand limiting the fall.

With Diwali just a fortnight away, a rise in demand is expected to support prices. Even with the availability of cheaper yellow peas, chana may see a spike in demand as there is firm demand for all agricultural commodities this year ahead of Diwali, he said.

Prices of chana in Akola, Maharashtra, were steady at INR 7,400-INR 7,425 per 100 kg, according to the India Pulses and Grains Association. Arrivals were down by 100 bags to 600 bags (1 bag = 50 kg). 

TUR prices in Akola were steady at INR 9,800-INR 9,825 per 100 kg, according to the association. Arrivals were up by 200 bags at 400 bags (1 bag = 50 kg). But prices of tur in Kalaburagi, Karnataka, were down by INR 150 from Monday at INR 9,011-INR 10,415 per 100 kg, according to the association. Arrivals were down by 822 bags at 362 bags (1 bag = 50 kg).

Tur prices are likely to continue to be on the downtrend owing to weak demand and anticipation of higher production due to an increase in kharif tur sowing compared to last year, the association said in its weekly report last week. Increasing imports of cheaper tur from Africa is also likely to weigh on prices. 

MOONG prices in Akola were steady at INR 7,000-INR 8,000 per 100 kg, Kirit Mantri, a local trader, said. "Arrivals of the new crop from Maharashtra, Karnataka, and Rajasthan are steady, and demand is on a par with supply," he said. Prices could rise by INR 200-INR 300 if the government decides to begin procurement of moong at minimum support prices, he said.  

Prices of moong in Kalaburagi were also steady at INR 6,500-INR 7,500 per 100 kg, according to the association. Arrivals were steady at 3,000 bags (1 bag = 50 kg).

MASUR prices in Indore were steady at INR 6,000-INR 6,100 per 100 kg, Jain said. "Prices have been steady for a while but could see changes due to tensions in India-Canada relations," he said.

India's ties with Canada hit a new low Monday as each expelled the other's top diplomats. New Delhi and Ottawa have shared a frosty relationship ever since Canada's Prime Minister Justin Trudeau alleged in September last year that the Indian government may have had a hand in the murder of Sikh separatist activist Hardeep Singh Nijjar, a Canadian citizen, in June 2023. India's government had designated Nijjar a terrorist.

India imported nearly 280,000 tonnes of masur in Apr-Jul, of which over 105,000 tonnes came from Canada alone, according to data from the association. "If trade between the two countries is strained, prices of domestic masur could rise," Jain said.  End

Edited by Rajeev Pai

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