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Informist, Monday, Jan. 6, 2025

MUMBAI – Market participants expect prices of chana to remain steady to weak in the near term due to ample supply and low demand, the India Pulses and Grains Association said in a report released Monday.

Despite expectations of a rise in festival demand ahead of the Maha Kumbh Mela and Ramadan, prices of chana have not risen due to a rise in imports from Australia, and the extension of the duty-free import window for yellow peas, the association said. The Centre on Dec. 24 had extended the duty waiver on imports of yellow peas by another two months till Feb. 28, with immediate effect. The Maha Kumbh Mela is set to take place from Jan. 13 to Feb. 26, while Ramadan will take place between Feb. 28 to Mar. 29.

Arrivals of the new rabi chana, along with yellow pea arrivals in the market, are likely to limit any price recovery, and keep immediate need-based buying in focus, the association said. 

Market participants will be closely monitoring the cost and freight prices of Australian shipments of chana, the progress of rabi sowing of chana and its yields in January and February, and the weather conditions, the association said.

Prices of chana continued to fall in the week ended Saturday due to low demand from millers, as they made only need-based purchases, expecting ample supply of the pulse in the future.

A rise in imports from Australia and the expectations of upcoming domestic crop arrivals added to the bearish sentiment in the market. The government's extension of the duty-free imports of yellow peas further dampened any price recovery prospects, the association said. 

In the week ended Saturday, prices of chana in Delhi were down by INR 50 from the previous week at INR 6,700-INR 6,725 per 100 kg, according to the association. Prices of chana in Akola, Maharashtra, were down by INR 25 from last week at INR 6,525-INR 6,550 per 100 kg.  End

Reported by Shreya Shetty

Edited by Tanima Banerjee

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