Chana prices dropped over 7% in one week time as pressure seen

Описание: Chana prices dropped over 7% in one week time as pressure seen after Nafed has requested food ministry for allowing chana sale at Rs. 4100 per quintal.

Chana has been sown in around 10.53 million hectares, which is 0.99 million hectares more than last year and 1.18 million hectares more than the average acreage of last five years for the entire season.

India’s rabi sowing has reached new records this year on the back of strong post-monsoon showers which have ensured adequate soil moisture reducing farmers’ expenditure on irrigation.

Pressure also seen amid higher availability of stock, higher area coverage and weak demand. Right now NAFED is selling chana at Rs. 4400 per quintal.

Ministry may accept request as new crop is at hand and crop size may touch record level as crops in good condition while area may exceed 110lakh ha this year.

Nafed is concerned about storage place and eager to offload stock as soon as possible from the second week of Feb new crop is likely to start.

The ED has stepped up its probe into the manipulation of prices of pulses in 2015.








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