Chana (kanta), which rose to Rs 5,150 a quintal yesterday on weak arrival and improved buying support, tumbled on Tuesday to Rs 4,950-5,000 on crash in chana futures. Similarly chana (desi) also declined to Rs 4,850-4,900. However, notwithstanding decline in its prices, any major fall in chana appears unlikely given declining inventories and delay in next crop which is 5-6 months away. Added to this, less number of export deals by the traders will also fuel the bullish sentiment in chana in the coming days, said a trader.
Chana dal remained unchanged barring chana dal (bold) which declined by Rs 25 to Rs 6,400-6,425 a quintal. Chana dal (average) and chana dal (medium) ruled stable with chana dal (average) being quoted at Rs 6,100-25, while chana dal (medium) at Rs 6,200-25.
According to the latest Assocham report, chana dal prices in the past one year from June 2011 to June 2012 has risen by 90 per cent and it would further reach a new high by Diwali this year, said the association's General Secretary, D.S. Rawat, here on Tuesday adding that import of lentils will be as expensive a proposal as there is a shortage of supply throughout all pulse grower countries this year.
Dollar chana continued to rule sluggish on slack demand both in the domestic and export market. In local mandis, dollar chana ruled at Rs 7,000-7,500 a quintal amid an arrival of around 1,000 bags. As compared to its prices last week, dollar chana in local mandis is ruling Rs 300 a quintal lower.
In container also, dollar chana continues to slide with 42/44 count being quoted at Rs 8,500; 44/46 count at Rs 8,400; 46/48 count at Rs 8,300, while dollar chana 58/60 count ruled at Rs 7,500 a quintal. However, notwithstanding sluggish demand, future of dollar chana appears to be bullish with rise in demand in the coming days, said Ankur Pandya, a trader.