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Informist, Monday, Dec. 9, 2024

By Shreya Shetty

MUMBAI – Prices of chana fell in key spot markets of the country due to sluggish demand, traders said. Prices of tur were down in some markets due to arrival of the new kharif crop from Karnataka, while prices of masur were steady, they said.

CHANA prices in Indore, Madhya Pradesh, were down by INR 50 from Friday to INR 6,600-6,650 per 100 kg, Raja Jain, a local trader said. "Demand for chana was supposed to rise due to the ongoing wedding season, but there was no substantial increase," Jain said. Demand is likely to stay weak as the market enters a period of seasonal low, he said.

While prices could continue to stay weak, they are not expected to fall below he INR 6,000 per 100 kg, Jain said. "Stockists and farmers do not want to incur further losses by selling the pulse at a much lower rate, so prices could stabilise between INR 6,500-6,000 per 100 kg in the next few days," he said.

Chana prices could rise slightly by the end of December as Pongal, which will take place from Jan. 14-17, will push up demand, Jain said. 

Prices of chana at Akola in Maharashtra fell by INR 125 from Friday to INR 6,600-6,500 per 100 kg, according to the India Pulses and Grains Association. Arrivals were steady at 200 bags (1 bag = 50 kg).

TUR prices in Akola fell by INR 100 from Friday to INR 9,750-9,800 per 100 kg, with arrivals steady at 150 bags (1 bag = 50 kg), according to the association. On the other hand, prices of the new kharif tur were steady at Kalaburagi in Karnataka at INR 9,500-10,000 per 100 kg, with arrivals up by 100 bags to 1,000 bags (1 bag = 100 kg), according to the association.

Prices of tur are expected to remain volatile in the short term due to an increase in arrivals of the new kharif crop and an anticipated rise in demand from millers, the association said in its weekly report released Monday. While prices of tur could fall due to new arrivals, analysts believe the risk of a big fall is low due to rise in demand from millers, the association said.

MASUR prices in Indore were steady at INR 6,000-6,050 per 100 kg, Jain said. Prices are steady as the demand for masur is on par with its supply, he said. Prices are expected to stay steady in the long run as there are no anticipated falls or spikes in demand, he said. "The demand for masur is unaffected by festivities or muted regular demand, unlike that of chana or tur," he said.

Prices of the moti variety of masur were steady in the key wholesale market of Lalitpur in Uttar Pradesh at INR 5,600-6,000 per 100 kg. Prices of the choti variety were also steady at INR 5,800-6,150 per 100 kg, the association said.  End

Edited by Ashish Shirke

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