More Stories

Informist, Tuesday, Dec. 10, 2024

By Shreya Shetty

MUMBAI – Prices of all the pulses were flat across the country's key spot markets on Tuesday, traders said. Prices of chana and tur were steady, but both are expected to resume their downtrend due to the availability of cheaper Australian imports and arrivals of the new kharif tur from Karnataka, traders said.

CHANA prices at Akola in Maharashtra were steady at INR 6,650-6,675 per 100 kg, Ankit Kedia, a local trader, said. Arrivals were steady at 200 bags (1 bag = 50 kg). Prices have temporarily stabilised after falling continuously for the past week, Kedia said.

"There is little to no demand for domestic chana because of ample availability of cheaper imports from Australia," Kedia said. Prices of shipments due to arrive in the coming weeks range from INR 5,800-5,900 per 100 kg, he said. Australia's chana output is estimated at 1.9 million tonnes in 2024-25 (Apr-Mar), up 284% from 491,000 tonnes produced last year, according to the Australian Department of Agriculture, Fisheries and Forestry.

Kedia expects prices of chana to resume their downtrend in the next few days. "Farmers and stockists, who hold most of the domestic chana inventories available in the market, may start selling the pulse at cheaper rates to divert demand away from Australian imports," he said.

Prices of chana in Indore, Madhya Pradesh, were down INR 50 to INR 6,200-6,550 per 100 kg, according to the India Pulses and Grains Association.

TUR prices in Akola were steady at INR 9,750-9,800 per 100 kg, Kedia said. As in the case of chana, the downtrend in prices of tur has temporarily halted, he said. However, the downtrend is bound to resume soon as arrivals of the new kharif tur from Karnataka rise, he said.

Currently, the quality of the new crop is slightly lower due to high levels of moisture content, Kedia said. "However, in the coming days, the quality of tur, as well as the quantity arriving in the markets is expected to increase, weighing on prices," he said. Prices are likely to fall to INR 8,000 per 100 kg by February or March, on arrivals of the new crop from Maharashtra as well, he said.

Similarly, prices of the new tur crop in Kalaburagi, Karnataka, were steady at INR 9,500-10,000 per 100 kg, according to the association. Arrivals were up by 1,500 bags at 2,500 bags (1 bag = 100 kg).

URAD prices in Chandausi, Uttar Pradesh, were steady at INR 7,350-7,400 per 100 kg, according to the association. Arrivals were steady at 800 bags (1 bag = 50 kg). Prices of urad in Kota, Rajasthan, were steady at INR 6,000-7,200 per 100 kg, with arrivals steady at 1,500 bags (1 bag = 50 kg), according to the association.

The association sees prices of urad stable to firm in the near-term due to need-based demand from millers. Good quality urad is available at lower rates and millers are actively buying for crushing and processing, the trade body said in its weekly report on Monday.  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.