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Chana Is Likely to Rise Due to Low Sowing and an Empty Pipeline

by | Nov 17, 2022 | Chickpeas, Pulses

 
The most crucial thing in the Chana market is that the pipeline is empty. Farmers no longer have gram stock, and companies or stockists do not have gram stock. With the commencement of marriage season, there are chances of positive momentum in demand for gram in December-January.
 
Sowing will decrease
 
Experts say the sowing of Chana is estimated to decrease by 10 to 15% in the entire country. However, a clear report of gram sowing will come in December. The wheat, lentils and mustard sowing will be higher in Rajasthan than in chana. Due to good rains in the country in the last phase of monsoon, there’s a high moisture content in the soil, so farmers started sowing earlier. Chana stock of 2021 is estimated to be 0.05 million tonnes, of which 0.025 million tonnes is estimated to be in Gujarat.
 
Bright future
 
There is no reason for the slowdown in the Chana market, but due to pending clear reports on the reasons for the rise, Chana prices will mostly remain rangebound until December. Chana sales by NAFED decreased, and if the demand for marriage season turns out to be more than the speculation, Chana will rise before December.
 
The export of Indian gram and its products is increasing due to increasing problems in Australia’s gram crop, and the future of Indian chana seems to be bright in the next 2 to 3 months. Due to this, export demand will also be supported in the gram market.
 
The stock of Chana is petite, and it is only available to the private party. Due to the gradual increase in the selling price of Nafed, there is a perception of a good rise in Chana in January. 
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The post Chana Is Likely to Rise Due to Low Sowing and an Empty Pipeline appeared first on Commodity Board Europe GmbH.