Chana hit the hardest, ripples felt in other pulses. | |
| The pulses market in the country is going through a bearish phase, owing to weak demand, better arrivals and appreciating rupee. Market experts said the trend might continue for another fortnight. |
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| Chana has been hit the hardest. Commodity analysts said unless the chana market recovered, improvement in tur, urad, and moong (which also weakened in the last two weeks) market conditions was highly unlikely. |
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| Suresh Agarwal, chairman, Madhya Pradesh Dal Udyog Mahasangh, said, "Chana in Madhya Pradesh has witnessed an nlikely fall, and we hope there won't be a further slump, especially at a time when the state does not have enough crop." In Indore, Chana was quoted between Rs 2,285 and Rs 2,290 a quintal on Wednesday. |
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In Delhi, the spot prices reached a level of Rs 2,225 a quintal, a fall of over 9 per cent from the previous day. Three weeks ago, the prices were hovering above Rs 2,450 a quintal level. In Latur, the rates slumped to Rs 2,275 a quintal, a drop of Rs 75 a quintal in the last 7-10 days.
MELTDOWN
Spot pulses rates (Rs/quintal) | | | Indore | Delhi | Latur | | Chana | 2,285 | 2,225 | 2,275 | | Tur | 2,325 | 2,400 | 2,350-2,400 | | Urad | 2,850 | 2,750-2,800 | NA | | Moong | 3,050 | NA | NA |
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| "There is a lull in the market as far as demand for chana is concerned. On the back of arrivals from Rajasthan, Madhya Pradesh and Maharashtra, rates are sliding down, and we see the prices going down by another Rs 50-75 a quintal," said Sanjay Darak, a Latur-based trader. In Latur, arrival of chana was 5,000 bags on Wednesday. Tur is ranging between Rs 2,350 and Rs 2,400 a quintal. |
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| Dipak Shah, a Pune-based trader, said even as the market was going through a lean phase, appreciating rupee added to the woes. According to Rahul Vohra, an Indore-based trader, demand sustained till Akshaya Tritiya. "But after that, the demand has been lacklustre," he said. |
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| According to market reports, chana output from Rajasthan would be much more than the estimated 6 lakh tonnes. "The crop from the state is likely to be 9 lakh tonnes," said Rahul Vohra, adding that Rajasthan was a big factor in weakening the pulses market. |
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| Bikaner, a delivery centre for chana in Rajasthan, witnessed arrival of close to 30,000 bags on Wednesday. A majority of the state's chana crop is heading towards Delhi. On Wednesday, around 700 tonnes reached |
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| Delhi mandis. Sources in the mandis there said a further dip of Rs 25-50 a quintal was on the cards. |
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| However, analysts believed the overall scenario was bullish, and that the total country-wide output would be 50 lakh tonnes instead of the earlier estimated 55 lakh tonnes. |
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