In the grand pulse trading, a new player has emerged, and chana, often called chickpea, joins the triumphant march of pigeon peas and Black lentil, orchestrating a melody of soaring prices. A crescendo of nearly 20% since early July has cast a spell over the trade, alluding to a belief in a subdued crop yield and igniting a fervour of bullish trends.
The scarcity of pigeon peas and Black lentils has propelled a domino effect on other pulses, with chana prices surging, disregarding the Government’s optimistic production estimates. A symphony of lentils’ ascent resonates in tandem, elevating the pulse market at large. Curiously, a paradox unfolds – despite the government announcement of ample chana production at 1.35 million tonnes, the market flares with unyielding prices. Thus, the discord between numbers and reality leaves traders questioning the practicality of the situation, hinting at a potential drop in crop yield.
NAFED, the guardian of pulses, has entered the stage with an impressive procurement of 2.35 million tonnes during the Rabi 2022-23 marketing season. Yet, even this grand entrance doesn’t dampen the sense of shortage. With NAFED’s prominence, private stockists and corporates have chosen not to hoard this year. Millers, too, have embraced modest stockpiles. This symphony of scarcity and demand has orchestrated a swift rise, dancing to the rhythm of demand’s crescendo. The estimation of Chana’s output might be askew, possibly resting between 9.0-9.5 million tonnes, far from the Government’s grand projection of 135.43 million tonnes.
As the plot thickens, experts gaze on the horizon, foreseeing a potential for dramatic moves if the monsoon’s late stages hold unfavourable secrets. A continued firm demand till Diwali could herald another crescendo, another twist in this narrative of pulse prices.
Import/Export Statistics
Please click to reach our marketplace
The following reports may be of interest to you:
Related posts:
A Surge In The Chickpea: Price Skyrockets Due To Decreased Yield
Chickpea – Scarce Inventory Sparks Turmoil in Pricing
Exports of Pulses Declined in Australia in March
Chana Shipments Gain Pace on Low Price, Export Parity
Chana Procurement Picks Up, but Prices Continue to Rule Below MSP
Robust Overseas Demand Fuels Kabuli Chana Exports
As the Cheapest Pulses Crop, Chana Finds Favour With Cost-Conscious Consumers
The Demand for Chickpeas Surged Due to Less Production in 2022