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Informist, Tuesday, Nov. 19, 2024

By J. Navya Sruthi

MUMBAI – Prices of chana and tur were down in key markets across the country due to the availability of cheaper imports, while urad was steady, traders said.

CHANA prices in Maharashtra's Akola were down INR 68 per 100 kilograms to INR 6,807-6,832 per 100 kg due to increasing supply in the domestic markets, Ankit Kedia, a local trader, said. There were no fresh arrivals Tuesday because of the state assembly elections in Maharashtra, Kedia said. The market will remain shut on Wednesday due to the state polls.

Kedia expects chana prices to fall by INR 200-300 per 100 kg due to imports from Australia. The availability of yellow peas, a cheaper substitute for chana, is also pushing prices down, traders said. The import of yellow peas touched 1 million tonnes in Apr-Sept, according to data from the Ministry of Commerce and Industry.

Prices of chana in Indore in Madhya Pradesh were down INR 50 per 100 kg, Kailash Kakani, a local trader, said. He expects prices to remain in a range with prices likely to move INR 50-100 per 100 kg either way in the near term. 

TUR prices in Akola were down INR 100 per 100 kg at INR 10,450-10,500 per 100 kg, Kedia said. Despite delayed crop arrivals in the domestic markets, tur prices are seen lower in the near term due to imports of the commodity from Africa, Kedia said. Traders also expect domestic production of tur to be higher than last year.  

"Despite a rise in production, we estimate imports to rise by 7% on year, touching almost 1 million tonnes in 2024-25 (Apr-Mar) on rising demand," Kunal Parakh, business head at Full Circle Commodities, a global brokerage house, said. India consumes about 4.50 million tonnes of tur per year.

There were no arrivals Tuesday in Akola, as the market was shut on account of Maharashtra state polls, Kedia said. The market will remain shut on Wednesday also on account of elections.

URAD prices in Indore in Madhya Pradesh were steady at INR 7,500-8,300 per 100 kg, according to the India Pulses and Grains Association. Experts see 10-15% damage to the urad crop due to heavy rainfall. Rajesh Agarwal, executive member of Premier Pulses, said that with an estimated output of 1.69 million tonnes of urad for 2024-25, India will experience a shortfall in supply.

India will make up for the shortfall with imports from countries such as Myanmar. Monthly imports from Myanmar average 70,000 tonnes and in Apr-Sept India imported 400,000 tonnes of urad. End

Edited by Saji George Titus

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