Chana Prices Increase In Southern, Central States

Mumbai: Chana spot prices in southern and central States firmed up in contrast to the weak trend showed in Delhi and Rajasthan. Spot prices in Maharashtra were higher at Rs 2,615 per tonne. In Karnataka (Gulbarga). Unwillingness of stockists to sell at lower levels has resulted in spot prices moving up. Arrivals in the Delhi markets on July 30, were around 20 trucks against Friday's inflow of 25-30 trucks. In the futures market, chana for August delivery on NCDEX lost much of its July 30, gain to close lower by Rs 15 at Rs 2,296 per tonne on July 31. NCDEX registered a chana inventory of 9,261 tonnes in Delhi, 28,105 tonnes in Bikaner and 210 tonnes in Indore. The factors keeping the futures markets under pressure are the steady inflows of yellow peas in the markets.
In a bid to cool down prices, the government declared various sops to public companies to import chana. Private importers have stuck deals to import chana from Australia at $600 per tonne, which works out to Rs 2,500 a tonne. The consignment is hoped to land by September-end. Futures are hoped to trade weak till August-end and pick up if the demand increases. Spot prices are hoped to touch around Rs 2,600-2,700 per tonne beginning September.