More Stories

Informist, Wednesday, Nov. 27, 2024

By Shreya Shetty

MUMBAI – Prices of chana rose in key spot markets across the country on supply concerns due to lower acreage of the pulse in the current rabi season so far, traders said. Prices of tur rose due to demand from millers, while prices of masur were steady, they said.

CHANA prices in Indore in Madhya Pradesh rose INR 50 from Tuesday at INR 6,900-6,90 per 100 kg, Raja Jain, a local trader said. Chana acreage in the state has been low so far compared to last year, Jain said. "Farmers are shifting to wheat and maize for better returns," he said. Madhya Pradesh is a key chana-growing state, and prices have been pushed up in fear of a shortage in supply, he said.

The excessive rains caused due to the late withdrawal of the southwest monsoon have left parts of the state with ample water supply and soil moisture content, optimal for sowing wheat instead of chana, Jain said. Meanwhile, the government's push to boost ethanol production for blending with petrol has positively affected maize. A government decree in December to cap sugarcane diversion for ethanol triggered a chain reaction and led to a surge in demand for maize from the ethanol sector. 

Similarly, prices of chana in Akola in Maharashtra were up by INR 75 from Tuesday to INR 7,025-7,050 per 100 kg, according to India Pulses and Grains Association. Arrivals were down by 50 bags to 250 bags (1 bag = 50 kg).

Prices of old TUR prices in Solapur in Maharashtra were up by INR 100 from Tuesday to INR 10,000-10,300 per 100 kg, Rahul Srinivas, a local trader said. Arrivals in the market were around 70,000 kg-80,000 kg, which included the new kharif tur arriving from Karnataka, Srinivas said. The new tur is being sold at INR 10,600 per 100 kg, he said.

Prices are up due to demand from millers as they do not have sufficient stocks for processing tur into tur dal, Srinivas said. However, the rise in prices is temporary and prices are expected to fall soon as new arrivals increase, he said. "Prices could fall to INR 8,000-8,500 by Jan. 15 when the market receives the new crop from Maharashtra as well," he said.

Prices of old tur in Kalaburagi in Karnataka were down by INR 150-200 from Tuesday to INR 9,811-10,540 per 100 kg, according to the association. Arrivals of old tur were down by 183 bags to 213 bags (1 bag = 50 kg). Prices of the new tur were steady at INR 10,900-11,000 per 100 kg, with arrivals up by 100 bags to 500 bags (1 bag = 50 kg), according to the association.

MASUR prices in Indore were steady at INR 6,000-6,050 per 100 kg, Jain said. Prices are steady as supply is on par with demand, he said. Prices could move by INR 50-100 per 100 kg in the short term, but they will be temporary and the overall outlook of prices for the next few weeks is seen as steady, 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 6,200 per 100 kg, the association said.  End

Edited by Saji George Titus

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.