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Informist, Friday, Nov. 22, 2024

By Shreya Shetty

MUMBAI – Prices of chana and tur were up in key markets across the country due to demand from millers as they have low stocks of both pulses for regular processing, traders said. Prices of masur were steady, they said.

CHANA prices in Vidisha, Madhya Pradesh, were up by INR 50 from Thursday to INR 6,000-6,800 per 100 kg, Dinesh Mangal, a local trader said. Arrivals were steady at 400 bags (1 bag = 100 kg). Prices are up slightly due to demand from millers, he said.

Prices could go up by INR 200 in the next few days due to the market reacting to a fall in chana sowing in the current rabi season, Mangal said. "There could be a 40% drop in chana acreage this season, which is pushing buyers to stock up on the existing chana inventories in the market," he said.

However, the rise in prices would be limited, and they would be range bound, Mangal said. "Prices are not seen falling further than INR 6,000 per 100 kg, but they are also not expected to rise beyond INR 7,000 per 100 kg in the next two months," he said. Any rise in prices is limited due to the availability of yellow peas, which are used as a cheaper substitute for chana. 

Prices of chana in Akola, Maharashtra, were also up by INR 50 from Thursday to INR 6,850-6,875 per 100 kg, according to the India Pulses and Grains Association. Arrivals were steady at 400 bags (1 bag = 50 kg).

TUR prices in Akola were up by INR 150 from Thursday to INR 10,700-10,725 per 100 kg, according to the association. Arrivals were up by 300 bags to 600 bags (1 bag = 50 kg).

On the other hand, prices of tur in Kalaburagi in Karnataka were steady at INR 9,494-11,023 per 100 kg, according to the association. Arrivals were down by 111 bags to 909 bags (1 bag = 50 kg). Prices are up as mills across the country do not have any stocks in the pipeline for regular processing, leading to a temporary rise in prices, traders said.

Traders see prices of tur sliding to touch the minimum support price of INR 7,550 per 100 kg by Jan. 25 on higher supply as the kharif crop starts coming to the market in January. "However, in the near term, we see current prices sustaining on the delayed harvest," Kunal Parakh, owner of Full Circle Commodities, a global brokerage house, said at the webinar on Nov. 14.

MASUR prices in Vidisha were steady at INR 5,550-6,100 per 100 kg, Mangal said. Arrivals were steady at 250 bags (1 bag = 100 kg). "Prices could have fallen due to the ample availability of domestic stocks and imports, but they are held up due to the government's procurement activities," he said.

Prices of the moti variety of masur were steady in the key wholesale market of Lalitpur in Uttar Pradesh at INR 5,600-INR 5,900 per 100 kg. Prices of the choti variety were also steady at INR 5,800-INR 6,300 per 100 kg, according to the association.  End

Edited by Deepshikha Bhardwaj

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