Imports amid slack offtake pull down chana

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Weak demand and import of about 2 lakh tonnes of chana from Australiahave dragged down chana in local mandis by Rs 200 a quintal in the past eight days. On Tuesday, kanta chana ruled at Rs 4,000-4,025 a quintal, while desi chana declined to Rs 3,800. Chana had been ruling at Rs 4,200-4,200 before shipments from Australia began arriving. Prices are expected to go down further as imports continue. In the past one and half month, kanta chana has fallen by about Rs 800 a quintal.

Weak demand for chana has also pulled down its dal by about Rs 150 a quintal in the past one week, with average dal being quoted at Rs 4,800-4,825 a quintal, medium dal at Rs 4,875-4,900 and bold dal at Rs 5,175-5,200.

Improved domestic demand has lifted dollar chana in the past two days by Rs 200 a quintal to Rs 4,700-5,500 a quintal amid arrival of 4,000 bags. Compared with last week, dollar chana is still ruling Rs 500 a quintal lower. In container also, dollar chana is ruling lower on weak export demand falling by Rs 350 a quintal in the past week. On Tuesday, dollar chana (42/44 count) ruled at Rs 6,900 a quintal, 44/46 count at Rs 6,500, 46/48 count at Rs 6,100 and 60/62 count at Rs 4,000.

(This article was published on December 18, 2012)
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