Sluggish demand in pulses and gram flour and rise in selling pressure have dragged chana prices in Indore mandis in the past one week by about Rs 200 a quintal.
Though local mandis remained closed on Tuesday on account of Gandhi Jayanthi, in private trading chana (kanta) ruled at Rs 4,300-4,350 , while chana (desi) ruled at Rs 4,150 a quintal.
Hopes of bumper sowing of chana in the coming season on account of adequate rainfall in the State and availability of imported chana reigned in chana prices in the physical market.
Last week chana (kanta) had ruled at Rs 4,500-4,525 a quintal, while chana (desi) ruled at Rs 4,350 with rise in buying support at the lower rate.
However, since then downtrend continues in chana on weak buying support and sluggish demand in pulses and gram flour.
Range-bound movement
Traders expect chana prices to remain range-bound with its prices fluctuating between Rs 100 and Rs 200, depending upon its availability and demand. But then the speculators would also be looking for an opportunity to push up its prices during the festive season with expected rise in its demand.
Chana dal has also declined by about Rs 200 a quintal in the past one week on weak demand in pulses.
Chana dal (average) in local mandis is ruling at Rs 5,200-25, chana dal (medium) at Rs 5,300-25, while chana dal (bold) is ruling at Rs 5,675-5,700 a quintal, which is almost Rs 200-300 a quintal down from last week.
Dollar chana ruled stable at Rs 6,500-7,600 a quintal even as its arrival remained negligible on account of closure of mandis.
In the past one week, dollar chana prices remained stable even as demand continued to remain weak both in the domestic and export market.
In the container also, dollar chana is ruling stable with 42/44 count being quoted at Rs 8,700; 44/46 count at Rs 8,600; 46/48 count at Rs 8,400; while 58/60 count ruled at Rs 6,400 a quintal.