In a whirlwind development, the market for red chana, commonly known as Kabuli gram, is experiencing an extraordinary boom. The price of Kabuli gram has soared immersively within a concise span. Recent reports from Indore unveil the astonishing ascent of Kabuli gram’s worth, reaching a staggering $1,97 per kg on Saturday. Remarkably, industry insiders predict the potential of the gram prices to surge to the remarkable pinnacle of $2,04 within the present week.
The narrative echoes similarly in Maharashtra, where Kabuli gram’s price, which once stood at a modest in March, has swiftly escalated. Despite this, traders allude to the scarcity of larger count goods. Notably, Karnataka mirrors this trend with elevated prices due to robust demand from exporters. In tandem, the Kabuli chana stock in the Dabra line echoes an empty reservoir. Regarding Kabuli Gram’s production, sources paint a nuanced picture. Initially estimated at a formidable 1.8 million tonnes for the season, the projected crop yield has since experienced a notable dip, hovering around 1.5 million tonnes, mirroring the previous year’s harvest. Traditionally, the carryover stock hovers about 0.5 million tonnes, but this year, the stock is unprecedentedly nil.
Recent natural calamities, such as earthquakes in Turkey, Syria, and Sudan, have marred the Kabuli chickpea’s fate. Consequently, imports have surged. Simultaneously, the Indore-Bhopal lines, critical avenues for the chickpea supply, have seen disruptions, leading to price hikes in the global market. This ripple effect reverberates in local Kabuli Channa markets, sparking a tremendous boom. With the Kabuli gram market’s current trajectory, experts foresee prices plummeting to the$2,04 per kg range in the impending week.
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