Chana prices were down on increased arrival

Chana prices were down due to weak demand from bulk buyers. As arrivals have increased in states such as Madhya Pradesh and Maharashtra, chana prices are roughly 15% lower than the minimum support price of Rs. 5,230 per 100 kg in various mandis. In several mandis across the key producing States, the modal price is ruling lower between Rs. 4,300 and Rs. 4,600 per 100 kg, prompting trade demands for the lifting of restrictions on stock limits and futures trading in chana.

The chana crop is good and the market arrivals are about 25 per cent more in Maharashtra and Gujarat. Prices are 15 per cent lower than MSP and ruling at Rs. 4,300-4,400 per 100 kg. The arrival pressure is such that last week in Akola, the market had to be closed for two days as traders couldn’t handle the huge volumes.