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Informist, Monday, Jan. 20, 2025

 

MUMBAI – Prices of chana are likely to remain lower in the short term due to the ongoing imports of cheaper chana from Australia and increasing harvest of rabi chana, the India Pulses and Grains Association said in its weekly report on Monday. The availability of affordable yellow peas, which is a cheaper alternative to chana, also may weigh on prices, the report said.

 

According to data from the Department of Agriculture and Farmers Welfare, the acreage of chana in the ongoing rabi season was 9.67 million hectares as of Jan.13, up 0.8% from the area sown in the previous year. Harvest of the early chana crop has begun in some places in Karnataka.

 

Australia exported 349,904 tonnes of chana during November, up significantly from 32,698 tonnes exported in the same month in 2023, according to data from the Australia Bureau of Statistics. The jump in numbers is due to a much larger chana crop in Australia, prompted by demand from India, according to the association. 

 

While there could be a rise in demand from Ramadan, the Maha Kumbh Mela, and the upcoming wedding season, which could limit the fall in prices, it would be temporary, the report said. A significant recovery in prices seems unlikely, the association said. The ongoing Maha Kumbh Mela will continue till Feb. 26, while Ramadan will take place from Feb. 28 to Mar. 29.

 

Traders are expected to be cautious with their purchases, as they will be closely monitoring the demand and supply situation in the coming weeks, the association said.

 

Chana prices fell during the week ended Saturday due to the availability of cheaper Australian imports, cheaper yellow peas, and ongoing sales by local stockists, the association said. Weak demand from mills, as purchases were limited to immediate needs, also weighed on prices. Traders held off from making purchases, expecting an increase in supply next month, once arrivals of the new rabi chana begin in full swing, the association said.

 

In the week ended Saturday, prices of chana in Indore, Madhya Pradesh, were down by INR 200 from the previous week at INR 6,425-INR 6,450 per 100 kg, according to the association. Prices of chana in Akola, Maharashtra, fell by INR 150 from last week to INR 6,375-INR 6,400 per 100 kg.  End

 

Reported by Shreya Shetty

Edited by Tanima Banerjee

 

 

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