Chana demand picks up as rains stop in North India
Chana traders say that there may not be a very strong upside movement as good monsoon reports even now have ensured better sowing activities for Urad and Tur.
By Sutanuka Ghosal, ET Bureau |
KOLKATA: With skies clearing up in north India, demand for chana has started rising. This has resulted in moderate recovery of chana prices. Traders say that festive season demand is also looking up.
Chana traders say that there may not be a very strong upside movement as good monsoon reports even now have ensured better sowing activities for Urad and Tur. Expectations of pick up in festive season domestic demand have been there. Good monsoon reports from Kharif pulses growing states however prevented too much rise in price. Raising of MSP in Tur and Moong could ensure further rise in sowing area for these crops.
As per reports from ministry of agriculture, kharif pulses has been sown in 18.37 lakh hectare as compared to 3.99 lakh hec-tare during same period of previous year. Good rains in Madhya Pradesh and Maharashtra had been keeping market sentiments weak for pulses overall. However, reports of possibilities of adverse monsoon progress in July and August provided support to the falling market sentiments.
The southern states have for a long time been receiving less rains leading to lower crop sowing. This year situation has been better.As per 4th advanced government estimates, pulses production is likely to rise to 18.45 million tonnes in 2012-13 —up from 17.09 million tonnes in 2011-12 and up from 18 million tonnes as per the 3rd Advance Estimates. Production of all major Pulses—Chana, Tur, Urad and Moong—are expected to rise this year.
Chana traders say that there may not be a very strong upside movement as good monsoon reports even now have ensured better sowing activities for Urad and Tur. Expectations of pick up in festive season domestic demand have been there. Good monsoon reports from Kharif pulses growing states however prevented too much rise in price. Raising of MSP in Tur and Moong could ensure further rise in sowing area for these crops.
As per reports from ministry of agriculture, kharif pulses has been sown in 18.37 lakh hectare as compared to 3.99 lakh hec-tare during same period of previous year. Good rains in Madhya Pradesh and Maharashtra had been keeping market sentiments weak for pulses overall. However, reports of possibilities of adverse monsoon progress in July and August provided support to the falling market sentiments.
The southern states have for a long time been receiving less rains leading to lower crop sowing. This year situation has been better.As per 4th advanced government estimates, pulses production is likely to rise to 18.45 million tonnes in 2012-13 —up from 17.09 million tonnes in 2011-12 and up from 18 million tonnes as per the 3rd Advance Estimates. Production of all major Pulses—Chana, Tur, Urad and Moong—are expected to rise this year.
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