Chana, which had been trading low for the past one week, gained marginally on Tuesday with rise in buying support at lower rate and decline in selling pressure. In the last two days, chana (kanta) has gained Rs 50 with its price in local mandis on Tuesday being quoted at Rs 4,700-4,750 a quintal, while chana (desi) ruled at Rs 4,500-4,550.
With rise in selling pressure and slack demand, chana (kanta) prices last week fell significantly with its price plummeting to Rs 4,650 on Saturday.
However, hope of better crop on account of more than average rainfall in the state and selling pressure outweighing demand have led to decline in chana prices in the past one week.
According to traders, any major fall in chana prices from its current level appears unlikely in the coming days, given rise in demand during the festive season ahead.
However, according to another section of traders, notwithstanding favourable conditions for chana crop and bumper crop of chickpea in Australia and Canada, speculators may try to push up prices in the coming days on fear of depleting domestic stocks.
Chana dal on the other hand ruled stable with chana dal (average) in local mandis on Tuesday being quoted at Rs 5,625-50, chana dal (medium) Rs 5,725-50, chana dal (bold) Rs 6,000-6,025.
Dollar chana or chickpea ruled flat on weak domestic and export demand even as arrivals rose to 1,800-2,000 bags. In the local mandis, dollar chana ruled firm at Rs 6,500-7,500. In container also, dollar chana (42/44 count) was quoted at Rs 9,025-50, 44/46 count Rs 8,825-50; 46/48 count - Rs 8,675; while dollar chana (58/60 count) ruled at Rs 6,875.
Compared with last week, dollar chana was down about Rs 350-400 a quintal in the container.