Kedia Chana Price Outlook as on Aug 17, 2020

Описание: Chana Outlook & SWOT Analysis

Strengths

Wholesale prices in Bikaner Mandi was Rajasthan was up nearly Rs 100/qtl as compared with the week before.
Besan demand was moderate and daily arrivals stood nominal.
The focus has shifted to food during the pandemic with PM Narendra Modi-announcing the largest food security scheme to benefit 80 crore people across the country.
NAFED has procured 21.43 lakh metric tonnes of chana dal, as Modi govt has promised 1 kg per month free to every ration card-holding family until November.


Weaknesses

Wholesale prices in Bikaner Mandi were seen fluctuating mostly between Rs.4200-4275/qtl during the week ending August 14th.
Food minister Ram Vilas Paswan said there was enough stock of foodgrains and chana available with the Centre to meet the demand for next five months under the PM Garib Kalyan Ann Yojana (PMGKAY)
The government has said that it has 1.30 lakh tonne of chana under the buffer stock, which will be replenished from the 28.19 lakh tonne of chana maintained by the agriculture ministry under the Price Support Scheme.
Chana prices dropped as stable monsoon this season has helped sowing increase around the country. This monsoon season the acreage under pulses has increased by a third.


Opportunities

Demand in the spot market is better and growth is expected in the coming weeks as the economy is unlocking in a phased manner.
In addition, seasonal demand overall is generally higher around this time of year as the festive season draws to a close.
For the NCDEX grade qualities of Rajasthan Chana, most traders do not expect the rates to go below Rs.3950 till December.
Overall sentiments look moderately firm for chana. With the festival season not too far, the demand for the commodity is expected to rise in the coming weeks.
The changes in the Essential Commodities Act, too, is a supporting factor, as higher demand from stockists is expected.


Threats

Big carryover from the previous year and ample availability of this current inventory seems to be the limiting factor against chances of any sharp rise in prices from a broader perspective.
The government has set a target of 25.6 million tonnes of pulses production this year, which is 11.2 percent more than the estimated output of the year before.
Till now monsoons have been satisfactory, therefore improving planting outlook for the coming season.
As per the latest ABARES report, Australian chickpea production is forecast to rise 2.48 percent in 19-20 to 2.89 lakh tonnes as compared to 2.82 lakh tonnes in 2018-19.

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