Chana Domestic Prices on downtrend- May reduce further

09-Nov-2024 03:42 PM

Mumbai. With the start of import of new goods from Australia, the start of sowing process in the domestic sector, the end of the festive season and the continued import of yellow peas, the prices of Desi gram are now softening. Big multinational companies have started shipment of Australian gram to India. This time a great production of Desi gram is expected there, so it can be exported to India in good quantity.

According to trade analysis, at one time in the beginning of September, the price of gram had jumped sharply to a new record level of Rs 8000 per quintal, which has now fallen by more than 10 percent. The price of gram in Delhi was running at around Rs 6300 per quintal in the beginning of May, which jumped to Rs 8000 per quintal by September. But now the decline has come down to around Rs 7200 per quintal. The new gram imported from Australia is being traded in Mumbai at the price level of Rs 7200-7300 per quintal, while gram from Tanzania Pool is available at Rs 6500-6600. According to Rahul Chauhan, Director, iGrain India, this time there is going to be a bumper production of gram in Australia and forward deals are also being done for its import in large quantities, this time the quality of gram there is also considered to be the best in the last decade. Big companies like Grain Corp and Bitera have imported gram from India. With the end of the festive season, the demand for gram has become normal, due to which there is pressure on the prices, but the sowing of gram is lagging behind a bit. Due to huge imports, the price of gram may soften further. During April-August 2024, about 3.70 lakh tonnes of gram was imported in India, in which the share of Australian gram was close to 75 thousand tonnes. It is expected that it will be imported in large quantities from there in the coming time.