Chana prices rise due to low selling pressure; market supported by MSP hike

New Delhi. The chana (gram) market witnessed an upward trend today, driven by limited selling pressure and increased buying by pulse mills. Prices rose by up to ₹100 per quintal across various markets. The market gained strength as mills stepped up purchases at lower price levels while selling activity remained subdued.

Meanwhile, the central government has raised the Minimum Support Price (MSP) for chana by ₹83 to ₹5,958 per quintal for the 2027-28 Rabi marketing season; the previous MSP stood at ₹5,875 per quintal.

Demand expected to persist until November

Traders note that the peak consumption season for chana is currently underway, and demand is expected to remain steady through November. Most pulse mills hold limited old stocks of chana, and arrivals of domestic chana in producing markets are falling short of expected levels.

Additionally, stocks of imported chana at ports are reportedly low, with imports from Tanzania currently limited in volume. Under these circumstances, the market is reflecting the impact of mill buying at lower rates and restricted selling.

However, any further price appreciation will largely depend on demand, market arrivals, and the availability of imported chana. Limited selling, active buying by mills, and the ongoing consumption season are currently bolstering the chana market, while the hike in MSP has further supported market sentiment.