Chana Prices Show Significant Growth
Chana prices have risen sharply, increasing by $0,12 per kg in the past month. Despite the removal of import duties and increased arrivals, prices remain high. Experts predict that even if trade slows at high prices, due to weak production and low stock, Chana could surpass $0,96 per kg in the long term.
Strong Demand and Low Production Boost Prices
A month ago, Chana’s wholesale price in Delhi was $0,76-$0,77 per kg, now rising to $0,88 per kg, a 15% increase. In Akola Mandi, Maharashtra, prices rose by $0,08 now at $0,83-$0,84 per kg in a month. According to Satish Upadhyay, Secretary of Indian Pulses and Grains Association (IPGA), strong demand persists despite decreased production, pushing prices up. Government production estimates are 12 million tonnes, while industry estimates are closer to 8 million tonnes. Commodity expert Indrajit Paul noted low government stock also supports rising prices.
Imports May Not Alleviate High Prices
Experts predict Chana will continue to be sold at higher prices. Temporary declines might occur due to profit booking, but long-term prices will stay strong. Upadhyay mentioned that gram arrivals will weaken further, and the government lacks stock. Imports from Tanzania, expected next month, are likely to be only 150,000 to 200,000 tonnes. Australian imports are expected in October-November, with current Australian prices at $1,08 per kg. Including expenses, imported Chana will be costlier than domestic prices, suggesting strong future prices. Paul anticipates domestic prices could surpass $0,96 per kg before imports from Australia arrive.
Chana prices have surged due to strong demand and low stock, with prices rising by $0,12 per kg in the past month. Experts predict prices could exceed $0,96 per kg due to low production and limited import options, suggesting strong future prices.