Commodities

Chana may top ₹3,000/quintal

OUR CORRESPONDENT Indore | Updated on July 29, 2014

Amid Eid festivities and subdued buying, chana (kanta) ruled at Rs 2,900-Rs 2,925 a quintal, while chana (desi) was quoted at Rs 2,650. Kabuli Bitki on the other hand ruled at Rs 2,700-Rs 2,800. After two days of closure of mandis, chana (kanta) on Monday had rallied to Rs 2,950 a quintal with demands outstripping arrival. However, on Tuesday chana (kanta) declined by Rs 25-50 amid subdued and slack buying in local mandis on account of Eid festival. Compared to last week, chana however, is ruling Rs 50 a quintal higher.

According to Mr Rahul Vora, a whole-sale chana trader, rally in chana will likely to continue with its prices may touch the level of Rs 3,000 in the coming days given expected rise in demand for chana dal and besan during the ensuing festival season of Rakhi. However, he ruled out long rally in chana given its adequate stock.

Rise in spot chana has also lifted its dal by almost Rs 100 a quintal in the past one week with chana dal (average) today being quoted at Rs 3,200-Rs 3,250, chana dal (medium) at Rs 3,400-Rs 3,450, while chana dal (bold) ruled at Rs 3,600.

Dollar chana ruled firm at Rs 4,500-Rs 5,000 a quintal on subdued demand and buying. Arrival of dollar chana in Indore mandis on Tuesday declined to 600-700 bags.

In container also dollar chana ruled stable on subdued export demand with dollar chana (42/44 count) on Tuesday was quoted at Rs 5,700-Rs 5,775, 44/46 count ruled at Rs 5,500-Rs 5,575, 58/60 count with 7.2% moisture was quoted at 4,375 a quintal respectively. Compared to last week, dollar chana prices in the container have declined by Rs 100.

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Published on July 29, 2014
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