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Informist, Monday, Dec. 23, 2024

 

MUMBAI – Prices of chana are expected to remain under pressure in the short term due to rising imports of chickpea from Australia and yellow peas from Canada, the India Pulses and Grains Association said in its weekly report on Monday. Yellow peas are used as a cheaper alternative to chana.

 

In Apr-Oct, India imported 96,103.03 tonnes of chana from Australia, according to data from the Ministry of Commerce and Industry, making Australia the largest exporter of chana to India so far. During the same period, India imported 509,440.29 tonnes of yellow peas from Canada, the largest exporter of yellow peas to India so far, the data showed. 

 

With uncertainty surrounding the government's decision on extending duty-free imports of yellow peas, due to expire on Dec. 31, buyers are cautious, lowering demand and pushing prices down further, the report said.

 

Market participants will closely monitor Australian shipments and their cost and freight prices, the progress of chana sowing in the ongoing rabi season, the yields expected during January and February, and the weather, the report said. According to data from the Ministry of Agriculture, chana sowing was 1.9% higher on year at 8.6 million hectares as of Dec. 16.

 

In the week ended Saturday, chana prices fell due to rising imports of Australian chickpeas and Canadian yellow peas, the report said. Additionally, stockists and farmers offloaded inventories in fear of further fall in prices, which weighed on prices.

 

Demand from millers was limited as purchases of chana dal and besan dropped, the report said. Chana dal consumption was down due to record yellow pea imports. The country imported 1.3 million tonnes of yellow peas in Apr-Oct, according to data from the Ministry of Commerce and Industry.

 

In the week ended Saturday, prices of chana in Indore were down by INR 150 from the previous week at INR 6,675-INR 6,700 per 100 kg, according to the India Pulses and Grains Association. Prices of chana in Akola in Maharashtra were down by INR 125 at INR 6,700-INR 6,725 per 100 kg.  End

 

Reported by Shreya Shetty

Edited by Avishek Dutta

 

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