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Informist, Wednesday, Feb. 12, 2025

By Shreya Shetty

MUMBAI – Prices of tur and chana fell in key spot markets across India, while prices of moong were steady, traders said. Tur prices have declined on low demand, but are expected to remain volatile in the medium term due to weak miller demand and stockist purchases, according to traders. Chana prices are under pressure from sluggish demand, upcoming rabi crop arrivals, and high imports from Australia, they said.

TUR prices in Solapur, Maharashtra, fell by INR 100 from Tuesday to INR 7,300-INR 7,400 per 100 kg, local trader Rahul Srinivas said. "The market is volatile," he said. Following a steep rise in prices last week, prices have fallen again due to muted demand, he said.

Earlier, prices had risen by INR 100-INR 150 every day as the market got too enthusiastic about the commencement of stockist purchases, Srinivas said. Prices are now correcting, but are expected to remain unpredictable in the medium term, he said. "Prices will keep fluctuating by INR 100-INR 200 every few days for the next 2-3 months at least," he said.

CHANA prices in Kota, Rajasthan, fell by INR 50 from Tuesday to INR 5,600 per 100 kg, a local trader said. Prices have fallen as the brief rise in seasonal demand, which had supported prices for a few days, has died down, he said. In addition, upcoming arrivals of the new rabi crop have put prices under pressure, he added.

As of Feb. 3, the acreage of chana in the current rabi season was 9.86 million hectares, up 2.8% from a year ago, according to data from the Department of Agriculture and Farmers' Welfare. Arrivals of the new rabi crop have begun in Kalaburagi, Karnataka, and in Akola, Maharashtra.

Prices are also weighed down by high imports from Australia, traders said. India imported 589,198 tonnes of chana from Australia in December, according to the Australia Bureau of Statistics. India did not import any Australian chana in December 2023. However, Australian shipments in November stood at 328,558 tonnes, rising 88% on year from last year, the data showed.

The surge in Australian imports is fuelled by strong demand ahead of the anticipated reintroduction of import duty on chana and the bumper, high-quality crop in Australia, according to the India Pulses and Grains Association. Duty-free imports of chana are slated to end Mar. 31.

MOONG prices in Kalaburagi were steady at INR 7,000-INR 8,000 per 100 kg, Veerkumar Kadkol, a local trader, said. Prices could rise in a few weeks as arrivals of the kharif crop have decreased and the market could face a shortage soon, he said. The quality of moong is good, which could support prices. Prices of the legume are likely to rise by INR 500-INR 600 per 100 kg, Kadkol added.

Prices of moong in Lalitpur, Uttar Pradesh, were steady at INR 6,000-INR 7,000 per 100 kg, the association said.  End

Edited by Subhojit Sarkar

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