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Informist, Wednesday, Oct. 30, 2024

By Shreya Shetty

MUMBAI – Most benchmark spot markets for pulses in the country were shut Wednesday on account of Diwali, traders said.

CHANA prices in Akola in Maharashtra were unavailable as the market was shut, local traders said. Prices of chana in Delhi were down INR 50 from Tuesday at INR 7,150 per 100 kilograms, according to the India Pulses and Grains Association. 

Chana prices are seen rising due to higher demand for seeds, the association said in its weekly report on Monday. With the government increasing the minimum support price for chana by INR 210 per 100 kg to INR 5,650 and favourable market prices, more farmers plan to sow chana. However, the supply of cheaper imports from Australia, along with imports of yellow peas could limit the gains in prices, the association said. Yellow peas are used as a cheaper substitute for chana. 

TUR prices in Kalaburagi in Karnataka were unavailable as the market was closed, local traders said. Prices of tur in Raipur in Chattisgarh were steady at 10,750-10,800 per 100 kg, according to the association.

Prices are likely to stay firm until the arrival of the new kharif tur in markets in the first week of December, the association said. However, with expectations of higher arrivals and cheaper imports from Africa, the upside in prices could be limited, the association said. 

URAD prices in Vidisha in Madhya Pradesh as the market was shut, local traders said. Prices of urad in Bareli in Uttar Pradesh were steady at INR 8,200 per 100 kg, according to the association.

Urad prices are likely to rise this week due to a shortage in the domestic market and lower imports from Myanmar, the association said. Urad prices may rise due to damage to kharif crop due to bad weather and reduced sowing, leading to a shortage of good quality arrivals in the market, the association said. 

Markets in Kota in Rajasthan, Jalgaon in Maharashtra, and Indore in Madhya Pradesh were also shut on Wednesday, traders said. End

Edited by Saji George Titus

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