Weekly Review-Gram

23-Nov-2024 07:54 PM

Gram prices rise due to weak selling and increased buying

Weekly Review – Gram Prices and Trends

Overview
The gram market saw a bullish trend this week, with prices rising due to a slowdown in selling at low prices and an increase in demand. While large quantities of gram were expected to be exported from Australia, logistical challenges such as container shortages and a lack of labor hindered the expected export volume. This shortage of supply led to price increases both domestically and internationally.

International Market

  • Australia: Due to weak selling by exporters, Australian gram prices rose by $30-$40 per ton this week. The ready price reached $740, December shipment $700, and January shipment $685 per ton.
  • Logistics Issues: The export flow from Australia was disrupted by a shortage of shipping vessels and labor, with only a few vessels reaching Indian ports.

Domestic Market

  • Delhi: Increased demand from dal millers led to a rise in prices by Rs. 150 per quintal. The prices for gram ended the week at Rs. 6850/6875 for Madhya Pradesh variety and Rs. 6950/6975 for Rajasthan variety per quintal.

Port Markets

  • Mumbai: Due to weak buying interest, prices fell by Rs. 150 for Tanzania gram and Rs. 100 for Australian gram. The final prices were Rs. 6300/6350 for Tanzania and Rs. 6600 for old Australian and Rs. 6950 for new Australian gram per quintal.

Rajasthan

  • Prices in Rajasthan increased due to weak selling and increased buying. This led to an increase of Rs. 100 to Rs. 225 per quintal. Prices at the end of the week were:
    • Jodhpur: Rs. 5700/6500
    • Jaipur: Rs. 6925/7025
    • Bikaner: Rs. 6300/6500
    • Kishangarh: Rs. 5500/6200
    • Kota: Rs. 5800/6200 per quintal.

Maharashtra

  • The demand from dal millers resulted in a rise of Rs. 150 to Rs. 200 per quintal. The prices were:
    • Solapur: Rs. 6500/7100
    • Akola: Rs. 6850/6900
    • Nagpur: Rs. 6950/6975
    • Udgir: Rs. 5500/6800
    • Ahmednagar: Rs. 6500/6700 per quintal.

Madhya Pradesh

  • Prices rose by Rs. 100 to Rs. 200 per quintal due to increased selling by stockists and higher demand. The weekend prices were:
    • Ashoknagar: Rs. 6400/6600
    • Ganjbasoda: Rs. 6100/6600
    • Sagar: Rs. 5600/6300
    • Damoh: Rs. 5700/6350
    • Katni: Rs. 6725/6775
    • Indore: Rs. 6700/6850 per quintal.

Karnataka

  • No significant price movement was observed in Karnataka due to sluggish demand. The prices remained stable:
    • Gulbarga: Rs. 7000/7300
    • Bidar: Rs. 5911/6500
    • Gadag: Rs. 5840/6757 per quintal.

Other Regions

  • Raipur: Prices rose by Rs. 100 per quintal, reaching Rs. 6700/6850.
  • Kanpur: Similarly, prices increased by Rs. 100, reaching Rs. 6850 per quintal.

Gram Dal

  • The chana dal market showed mixed trends with both upward and downward fluctuations in prices. The prices at the end of the week were:
    • Delhi: Rs. 8175/8550
    • Bhatapara: Rs. 8450
    • Katni: Rs. 8250
    • Gulbarga: Rs. 8600/8700
    • Jalgaon: Rs. 8400
    • Indore: Rs. 8200/8300
    • Jaipur: Rs. 8025/8050
    • Kanpur: Rs. 8100/8200 per quintal.

Conclusion
The overall sentiment in the gram market remains positive with increased demand across regions, especially from dal millers. Export logistics issues and increased domestic demand have led to price rises in various markets.

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