For the last 6 months, the price of gram is running below the MSP (Minimum Support Price).
The selling policy of Nafed (National Agricultural Cooperative Marketing Federation of India Ltd.) will become decisive in the market of black gram market, with no chance of a huge boom. Now the demand for festivals has started. Chana sowing in Maharashtra will start 15 days in advance. The black Gram market will increase in Maharashtra and Karnataka.
The price in local markets is being offered less compared to the minimum selling price. MSP is 0,067$ per kg and in the domestic market it is 0,057$ per kg. In the Current year NAFED has bought huge quantities and is now selling off the stock.
A month ago, the price of Delhi gram was expected to increase 0,010 to 0,020 per kg, but now there is no possibility of the price of gram reaching this level. At present, there is no levy in the market due to the decrease in the price of gram every day.
NAFED has a stock of 30.55 million tonnes, out of which the government Has allocated 1.5 million tonnes of stock to the States and Union Territories at a discount of 0,10$ per kg but it is to wait and watch whether the States and Union Territories will take the stock of Chana or not?
Many stockists do not have a large stock of grams because most of the stock got over when the demand for grams came out in the month of June-July. Due to the sale by Nafed, at present, the demand in festivals for gram is not the same as it should be. Buying for the same is expected to begin in a few days.
At present, there is a huge protest against the government regarding inflation in the whole country and due to the upcoming festivals, there is a perception that the government will not start the selling of gram futures. The idea of introducing gram futures may come after the festival of Diwali is over in October.
Experts state that there is no chance of a rise in gram due to the continuous selling of Nafed at a low price. Farmers still have a huge stock of gram, similarly processing items made from gram are also available in the market as needed.
Import in India from Africa is at quite a low price at the moment. The new crop of gram from Tanzania is expected to be imported by the end of September. Tanzania’s gram has been traded for 0,07 per kg.
Chana sowing is likely to increase by 15 to 20% in Karnataka and Maharashtra in the new season of gram. Chana price is expected to remain in the range of $0,06 to 0,07 per kg till Diwali festival.