More Stories

Informist, Monday, Nov. 11, 2024

By Shreya Shetty

MUMBAI – Prices of chana fell in key spot markets across the country on Monday due to sluggish demand, traders said. Prices of tur also fell, but could rise soon due to a shortage in supply, they said. Prices of moong were stable, they said.

CHANA prices in Indore, Madhya Pradesh, were down by INR 50 from Friday at INR 6,925-6,950 per 100 kg, local trader Kailash Kakani said. Demand for chana is extremely sluggish and prices have fallen by INR 300-400 in the last week, he said. "Prices have come down from the temporary high during the festive season," he said. Supply has risen due to increased imports from Australia, which have pushed prices further down, he said.

Prices of chana could rise due to demand in the upcoming wedding season, traders said. However, the rise in prices could be marginal, they said. Prices of chana in Akola, Maharashtra, were also down by INR 50 from Friday at INR 7,000,7,025 per 100 kg, according to the India Pulses and Grains Association. Arrivals were up by 200 bags at 400 bags (1 bag = 50 kg).

TUR prices in Solapur, Maharashtra, were down by INR 100 from Friday at INR 10,300-10,850 per 100 kg, local trader Mukesh Sanklecha said. Arrivals were steady at one to two trucks or 10,000-20,000 kg. Low demand for the pulse has driven prices down, he said. Prices could remain low as buyers are holding back from purchasing in anticipation of new tur crop, which could drive prices down further, he said.

However, the fall in prices could be limited due to shortage of tur. "Supplies of domestic tur as well as the lemon variety of tur imported from Myanmar are very low," Sanklecha said. Demand from millers could push up prices marginally as they do not have enough stocks in the pipeline for processing, he said.

Similarly, prices of tur at Kalaburagi in Karnataka were down by INR 50 from Friday at INR 10,000-11,163 per 100 kg, according to the association. Arrivals were down 691 bags at 1,411 bags (1 bag = 50 kg.)

MOONG prices in Solapur were steady at INR 7,200-8,400 per 100 kg, Sanklecha said. Prices are steady as there is no spike or fall in demand, he said. Demand is on par with supply, he said. "Prices could rise after a few weeks as the arrivals of the new kharif moong in the market are slowing down," he said. 

On the other hand, prices of moong in Kalaburagi were up INR 500 from Friday at INR 7,000-8,000 per 100 kg, according to the association. Arrivals were steady at 2,000 bags (1 bag = 50 kg). End

Edited by Ashish Shirke

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2024. All rights reserved.