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Informist, Friday, Dec. 20, 2024

By Shreya Shetty

MUMBAI – Prices of chana fell in key spot markets across the country as arrivals in the market increased amid a seasonal drop in demand, traders said. Prices of tur fell due to arrivals of the new kharif crop from Karnataka and Maharashtra, while prices of moong were steady, they said.

CHANA prices in Vidisha in Madhya Pradesh were down by INR 100-INR 200 from Thursday at INR 6,200-INR 7,000 per 100 kg, Dinesh Mangal, a local trader said. "Farmers and stockists are offloading their inventories into the market in fear of a further fall in prices," he said.

Prices are already weighed down by a seasonal drop in demand seen at the end of the year, Jain said. "This year, demand is especially low due to the availability of yellow peas," he said. Yellow peas are used as a cheaper alternative to chana. The country imported 1.3 million tonnes of yellow peas in Apr-Oct, according to data from the Ministry of Commerce and Industry.

The market is waiting for the government's decision on extending the duty-free import of yellow peas beyond Dec. 31, the India Pulses and Grains Association said in its weekly report on Monday. According to media reports, the government is considering extending the duty waiver on yellow pea imports for a few more months, possibly until February.

On the other hand, prices of chana in Akola in Maharashtra were steady at INR 6,725-INR 6,750 per 100 kg, according to the association. Arrivals were down by 250 bags to 250 bags (1 bag = 50 kg).

Prices of the new TUR in Solapur in Maharashtra were down INR 100 from Thursday at INR 7,800-INR 8,300 per 100 kg, according to the association. The market received 75–80 trucks, or 75,000-80,000 kg of the new kharif tur. The market has started receiving small batches of the new crop from surrounding regions, weighing on prices, traders said. Arrivals of the new crop from Karnataka is also underway, pushing prices down further, they said.

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

Similarly, prices of the new tur in Kalaburagi in Karnataka fell by INR 100 from Thursday to INR 6,025-INR 8,559 per 100 kg, according to the association. Arrivals of the new tur were up by 47 bags at 1,466 bags (1 bag = 100 kg).

MOONG prices in Lalitpur in Uttar Pradesh were steady at INR 6,500-INR 7,500 per 100 kg, according to the association. Prices of moong in Kalaburagi were also steady at INR 6,500-INR 7,500 per 100 kg.

The National Agricultural Cooperative Marketing Federation of India procured 119,469.1 tonnes of moong as of Monday, which is 35.7% of the total Centre-sanctioned quantity of 334,416 tonnes under the price support scheme, according to data provided by the federation.  End

Edited by Avishek Dutta

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