Every year in November, colossal demand is seen in North India. Because before the cold season, the traders buy a gram for stocking. Due to insufficient gram stock, there has been a rapid rise in demand.
Decrease in sowing
The sowing of the gram is expected to decrease in other states except for Maharashtra. The sowing of Kabuli gram has increased in Madhya Pradesh, but the sowing of regular gram has reduced. Due to the perception of a decrease in sowing and lack of good quality gram in the country, the stockists have stopped selling.
Indian traders import 50% of Chana from Tanzania compared to every year since Chana trade is based on the government’s purchase and sale in the current year, due to which the stock of old Chana imported from Tanzania has been completed at the moment. It is difficult to import Tanzanian gram due to the heavy purchase of it by Pakistan and Bangladesh.
Prices may rise
Due to the bullish fundamentals of the Chana market, the price is likely to increase rapidly from $0.65 to $0,67 per kg.
No one has good quality gram stock in the country except the government agency, and there is talk of a massive increase in the demand for gram dal. Due to the increasing cold in the country and the start of the wedding season, the market may rise. The demand from Dubai for Chana is good.
Thus, to conclude, experts say that looking at the fundamentals of Chana, the price is expected to hike very soon.
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