Improved demand from bulk buyers/stockiest following onset of the festival season amid lower supplies due to slack arrivals supported the market sentiments.
NAFED Chana sale at higher prices also supported the prices in Chana. NAFED sold out Chana in the range of Rs. 4901-5071/qtl. During the last week of August spell of heavy rain damaged the Urad in central and western India.
Excess rainfall in many of districts of Madhya Pradesh and some parts of Karnataka has led to stagnation of water in the fields of Moong and Urad causing damage to the crop.
As per 4th advance estimate released by the Ministry of Agriculture Chana production in 2019-20 has been estimated at 113.5 lakh tonnes which 14% higher than the production of 99.4 lakh tonnes in 2018-19.
Chana import for 2020-21 (Apr-May) stood at 0.06 lakh tonnes as against 0.50 lakh tonnes imported during the corresponding period of the previous year.
Import and export in month of May 2020 reported 0.06 lakh tonne and 0.56 lakh tonne respectively. After three years of drought, Australia will see its crop production spike in 2020-21, according to the Australian Bureau of Agriculture and Resource Economics and Sciences (ABARES).
–Chana trading range for the day is 5332-5484.
–Chana gained due to less imports, NAFED selling on higher prices and allocation of additional 3 lakh ton in buffer stock.
–Improved demand from bulk buyers/stockiest following onset of the festival season amid lower supplies due to slack arrivals
–MSP for chana hiked by Rs 225 per quintal to Rs 5,100.
–In Delhi spot market, chana remains unchanged at by 0 Rupees to end at 5300 Rupees per 100 kgs.