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Informist, Monday, Dec. 30, 2024
MUMBAI – Prices of chana in the country are seen stable amid large stocks of yellow peas and chana at ports and steady imports of Australian chana, the India Pulses and Grains Association said in its weekly report. This is likely to limit any upside in prices, the report said.
India imported 1.3 million tonnes of yellow peas in Apr-Oct, according to data from the Ministry of Commerce and Industry.
The arrival of the rabi chana crop, expected to start in late January or February in Karnataka, followed by Maharashtra and Madhya Pradesh in March and Rajasthan in April, will boost the supply in the coming months, the association said.
Prices of chana in Akola in Maharashtra were at INR 6,500-INR 6,575 per 100 kg on Saturday, down INR 150 per 100 kg from the previous week, due to rising imports and weak demand. Chana prices in Indore in Madhya Pradesh were INR 6,625-INR 6,650 per 100 kg on Saturday, down INR 50 from the previous week.
Last week, the government extended the duty waiver on imports of yellow peas by another two months till Feb. 28. A government source told Informist there is no clarity about the amount of chana sown across the country in the ongoing rabi season.
"There are issues that have persisted which may diminish overall (chana) crop output... We want the price momentum, which is on the downtrend, to continue as is. The policy may be amended once we have a better view of how the Indian chana crop is looking. We should have that in the next two months," the source said.
However, traders and market participants said the area under chana in the ongoing rabi season was better than last year and is likely to progress well. Secretary of the India Pulses and Grains Association Satish Upadhyay said that the association has requested the government to impose a 50% import duty on yellow peas as the domestic prices of the commodity are already low. End
Reported by J. Navya Sruthi
Edited by Saji George Titus
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