Chana has been witnessing an uptrend in local mandis for the past few days amid rise in futures and higher imports from Australia. Besides weak arrival has also added to the uptrend in chana. Even as local mandis remained closed today on account of Anant Chaturdashi, chana (kanta) in private trading today was quoted at ₹5,950-6,000 a quintal, while chana (desi) ruled at ₹5,850 a quintal.

Compared to last week, chana is ruling ₹100 higher. With speculators becoming active in future chana trading, downtrend in chana appears unlikely, Sanjay Agrawal, a local chana trader, told Business Line. Besides higher import will also lent strength to chana prices, he added. On the other hand, weak demand at higher rate dragged dollar chana with its prices in Indore mandis currently being quoted at ₹10,000-11,500 a quintal (₹13,000 last week). With mandis remaining closed, arrival of dollar chana remained negligible.

Published on September 5, 2017