Chana may continue to trade firm as arrival from the new crop has started declining

Chana may continue to trade firm as arrival from the new crop has started declining while the old stock is declining fast. Disrupted shipment from Russia and Ukraine ,increasing fuel cost and buyers interest at current price are likely to push price by Rs. 100 to 200 in coming weeks. Demand for Holi continues and it would remain supportive to market fundamental. Importers are trying to source it from other available sources and the import cost would go up with rising fuel cost and other logistic issues.
As per latest data released, import of Chana in Jan is pegged at 22,382 ton as compared to 95,344 ton in the corresponding period a year ago. During April – Dec imports are pegged at 179,611 ton as compared to 235,520 ton in the same period a year ago.
Exports of chickpeas from the country during April-Jan 2021 are down on year and are pegged at 64,416 ton as compared to 128,112 in the corresponding period a year ago. However, this year desi chickpeas exports are on the rise, in contrary to kabuli chickpeas because of lower availability.