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Informist, Tuesday, Apr. 1, 2025

MUMBAI – Chana prices are likely to remain firm this week as low rates are seen encouraging traders, millers, and stockists to stock up on the legume, the India Pulses and Grains Association said in its weekly report on Monday.

Prices could also be supported by the government's procurement activities. In order to build up buffer stocks, the government has approved the procurement of 2.79 million tonnes of chana, mainly from Rajasthan, Madhya Pradesh, and Gujarat. However, if prices rise above the minimum support price, farmers may prefer selling their produce in spot markets rather than to the government, the association said.

A rise in prices could be limited due to increasing arrivals of the rabi chana crop, the association said. Prices could be weighed down by the availaibility of ample stocks of imports with around 440,000 tonnes of imported chana and 785,000 tonnes of imported yellow peas lying at ports. 

Prices of chana rose in the week ended Saturday due to increased demand from millers, traders, and stockists. Demand rose as prices dipped below the minimum support level of INR 5,650 per 100 kg, and on an increase in requirement for chana dal and besan for the upcoming festivals, the association said. A slowdown in arrivals in major markets with the financial-year end closures also gave a boost to prices. Most markets are set to reopen on Wednesday.

Prices also rose as the government reimposed import duty on chana. The government levied a 10% import duty on chana, with effect from Tuesday, according to a notification issued by the finance ministry's Department of Revenue late Thursday. 

In Akola, Maharashtra, prices of chana in the week ended Saturday rose by INR 100 per 100 kg from the previous week to INR 5,875-INR 5,900 per 100 kg, according to the association. Prices in Indore, Madhya Pradesh, also rose by INR 100 per 100 kg to INR 5,925-INR 5,950 per 100 kg.  End

Reported by Shreya Shetty

Edited by Deepshikha Bhardwaj

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