Weak demand and bearish futures pounded chana prices in the spot market. Chana (kanta) at the mandis in Indore declined to ₹5,300 a quintal. Chana (desi) ruled at ₹ 4,200-4,225, while chana (mausmi) was quoted at ₹ 4,200-4,300 a quintal.
Compared to last week, chana in Indore mandis has declined by ₹300 a quintal.
According to Prakash Vora, a local chana trader, irrespective of actual demand and supply status, speculators are in complete control of chana prices. As a result,the real buyers are shying away from the market, he added. Decline in chana also dragged its dal with chana dal (average) today being quoted at ₹ 6,700-6,800, chana dal (medium) at ₹ 6,900-7,000, while chana dal (bold) was quoted at ₹7,100-7,200 a quintal.
Dollar chana also quoted lower at ₹ 5,500-6,500 a quintal on weak domestic and export demand. In containers, dollar chana quoted lower with the 42/44 count at ₹7,300, 44/46 count at ₹ 7,100, while dollar chana (58/60 count) was quoted at ₹ 6,900 a quintal, respectively. The arrival of dollar chana in Indore mandis today was recorded at 5,000 bags against 25,000 bags in mandis across Madhya Pradesh.
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