Chana Report

There was sustained demand for chana dal and besan, leading to a price increase of ₹25 per quintal. Chana saw a slight strengthening in prices over the week, although the movement was not entirely stable. Due to rainfall in Australia, the harvest was delayed, which resulted in a strengthening of prices in the dollar. Despite increased imports of Australian chana, the domestic stock was weak, and sluggish sales resulted in mixed market sentiment. Domestic stocks of chana are weak, and the lack of good-quality chana has led to price increases. With better chana production in Australia this year, sales have increased there. The ship "TAOKAS WISDOM" arrived at Mundra Port on November 19, carrying an estimated 30,000 tons of Australian chana. Due to port congestion, unloading has been delayed, but it is expected to begin around December 3-4. Initially, it was expected that over 2 lakh tons of Australian chana would be imported in December. However, due to various reasons, this estimate may now be reduced. With limited domestic stock and the wedding season along with the Kumbh Mela, the fundamentals for chana remain strong. However, the sentiment is weakened due to forward chana trading at lower prices and increased imports from Australia. The market environment for chana remains uncertain, and making accurate predictions could be challenging. Currently, Delhi chana may strengthen from ₹7000 to ₹7325, while it could weaken if it falls below ₹6700. While strong fundamentals and the wedding season could lead to good performance, the market sentiment remains somewhat pressured due to cheaper Australian imports and an uncertain environment.

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