Mumbai, 03 May 2024 (Commoditiescontrol): Kabuli prices in Madhya Pradesh's major mandis remained stable on Friday for the second consecutive session due to a well-balanced supply and demand. However, container trade prices witnessed an increase on account of strong export demand, particularly from Middle Eastern countries. Container prices for all sizes rose by Rs 200 per quintal, as per exporters, due to a container shortage in major kabuli exporting countries has shifted some demand towards India.
Arrivals at Indore Mandi were reported at 4,200 bags, lower than the previous session's 5,000 bags. According to market sources, farmers are hesitant to sell their produce at lower levels. Overall, arrivals from the Madhya Pradesh's Kabuli growing belts were reported between 20,000 and 22,000 bags, down by 5,000 to 7,000 bags over the previous session.
Dhamnod market received 5,130 quintals of Kabuli Chana and price quoted almost stable between Rs 8,400 to Rs 10,400 per quintal. Anjad Mandi reported arrivals of 1,216 quintals. Here, prices dropped by Rs 250 to trade in the range of Rs 8410 to Rs 10350 per quintal. The arrival in Karahi market dropped by 50 quintals to 1,750 quintals due to which the price dropped by Rs 300 to Rs 8,500 per quintal. Here, the upper level of Kabuli Chana price remained at Rs 10,455 per quintal with a decrease of Rs 80.
According to market sources, demand from stockists was low, but exporters have expressed keen interest to buy Kabuli Chana from Indore. Local traders informed that the prices are struggling to maintain higher levels, as a result there's pessimism among stockists. Moreover, since we have reached the fag end of wedding season, the domestic demand remains muted, which in turn, is weighing on the prices.
As far as international markets are concerned, Kabuli prices in Canada for 9 mm and 7 mm variety quoted stable at USD 870 and USD 760 per MT, respectively. CNF prices for 9 mm variety Kabuli Chana in Mumbai is likely to trade in narrow range, between $1,240 and $1,250 per MT, including import duty and freight.
According to experts, this time the production of chickpea has increased strongly in Maharashtra, Madhya Pradesh, Karnataka and Andhra Pradesh. This is the reason why the market prices of Kabuli Chana is falling continuously. Lack of buying interest is also reported. According to experts, there is no long-term growth visible in Kabuli Chana at present. Absence of domestic demand and weak export orders are collectively causing the downfall of chickpea prices.
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(By Commoditiescontrol Bureau; +91-9820130172)
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