New chana crop hits Karnataka mkt, price at 10% premium to old crop. The new chana crop has started arriving in small quantities in Kalaburagi, a key market in Karnataka. However, the new crop has few takers due to difference between farmers and traders on prices. Some of the new crop was sold in a range of 5,000-5,200 rupees per 100 kg, around 10% higher than the old crop. Currently, daily arrivals of the pulse are pegged at 30-50 bags (1 bag = 100 kg). Some of the lots from the new crop have not been sold as traders are reluctant to pay high prices for the produce with high moisture content. Waghmare, however, expects prices to rise further in the coming months due to lower crop expectations in most of the growing states due to lower acreage under the commodity. Area under chana in Karnataka fell 14.7% on year to 1.16 mln ha as of Dec 12, and in Maharashtra, it was down 35.2% at 1 mln ha due to severe drought in both states. In Kalaburagi, the old crop was sold at 4,600-4,800 rupees per 20 kg. In the benchmark market of Delhi, the commodity was sold at 4,700 rupees.

 

Prices rose on expectation of a smaller rabi crop due to low soil moisture in key growing regions. Area under rabi maize crop was down 9.4% on year at 1.04 mln ha as of Dec 12. Maize prices in key spot markets, however, fell due to higher arrivals. In Davangere, Karnataka, maize was sold for 1,780-1,790 rupees per 100 kg, down 10-20 rupees. Arrivals were pegged at 3,000 bags (1 bag = 100 kg), 500 bags higher from previous day. In Indore, prices fell 40 rupees to 1,730 rupees