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Informist, Thursday, Dec. 12, 2024

By Shreya Shetty

MUMBAI – Prices of chana rose in key spot markets across the country on Thursday due to a temporary improvement in demand, traders said. Prices of tur also rose due to demand from millers for processing, they said. Prices of urad were steady, they added.

CHANA prices in Kota, Rajasthan, were up INR 25-INR 50 from Wednesday to INR 6,100 per 100 kg, a local trader, who did not want to be named, said. "The market saw a temporary rise in demand, pushing prices up slightly," he said.

Prices of domestic chana are likely to resume their downtrend due to arrivals of chana imports from Australia, he said. "A large shipment of Australian chana is expected to arrive in the Mundra port on Monday," the trader said.

However, prices are not expected to fall below the INR 5,500 per 100 kg level, he added. "Currently, arrivals in the market consist only of inventories held by stockists and farmers. They are likely to resist selling chana at lower prices, as they do not want to incur losses," he said.

Prices of chana in Indore, Madhya Pradesh, were steady at INR 6,575-INR 6,600 per 100 kg, according to the India Pulses and Grains Association.

TUR prices in Akola, Maharashtra, were up by INR 100 from Wednesday at INR 9,900-INR 10,000 per 100 kg, Ashok Gupta, a local trader, said. Arrivals in the market were steady at 400 bags (1 bag = 50 kg). "Low stocks in the pipeline for processing has increased demand from millers," he said. However, prices are not seen rising further, and could remain stable for the next few days, Gupta added.

While there are plenty of imports from Africa, which could put pressure on prices, the quality is not on par with domestic tur, Gupta said. "Prices will not be affected much by African imports," he said. However, once the market starts receiving arrivals of the new kharif tur from Maharashtra, prices will fall. Prices could touch the INR 8,000 per 100 kg level by Jan. 15, he said.

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

URAD prices in Chandausi, Uttar Pradesh, were steady at INR 7,400-INR 7,450 per 100 kg, according to the association. Arrivals were steady at 800 bags (1 bag = 50 kg). Similarly, prices of urad in Kota were steady at INR 6,000-INR 7,200 per 100 kg, with arrivals steady at 1,200 bags (1 bag = 50 kg), according to the pulses association.

As per the market view, prices of urad are expected to stay stable in the lower range in the near term due to need-based demand from millers, the association said in its weekly report released on Monday. Good quality urad is available at lower rates which millers buy for crushing. Prices are lower because of arrivals of the kharif crop and ample availability of stocks, the association said.  End

Edited by Tanima Banerjee

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