Spot Market Update: Chana Gains, Supplies Turn Weak

Chana gained today as poor arrivals clubbed with good demand in retail markets supported the sentiments. Traders are worried about Kharif pulses sowing and recent decline in imports is actually boosting the local prices up. The country imported 5.68 million tonnes of pulses in the 2017/18 financial year, down 15% from a year ago. The trend has continued in this fiscal too. Chana arrivals in the benchmark market at Delhi have been modest in recent weeks, averaging around 20-25 trucks per day and confirming that the supplies are entering in a seasonally weak period. Total arrivals were 20 trucks today in Delhi while prices lingered around Rs 4480 per quintal. Prices jumped 0.56% in Bijkaner to trade at Rs 4280 per quintal.