Commodity Outlook – Bengal Gram (Chana)

Sowing period: September to November
Harvesting period: March to April
Crop season: Rabi

Key growing regions:

  1. Madhya Pradesh – Dewas, Khargone, Sehore, Ujjain, Vidisha
  2. Maharashtra – Amarawati, Akola, Vashim, Wardha, Latur
  3. Gujarat – Surat, Dahod, Rajkot, Amreli, Junagarh
  4. Uttar Pradesh – Kanpur, Lucknow, Varanasi, Ghaziabad, Lalitpur
  5. Karnataka – Gadag, Raichur, Gulbarga, Bidar, Dharwad
  6. Rajasthan – Tonk, Kota, Baran, Jhalawar, Ajmer
  7. Telangana – Adilabad, Warangal

Production trend and Stock position:

  • NAFED procurement drive has improved as they have procured 1.90 lakh tonne (lt) of Bengal Gram at Minimum support price (MSP) till date.
  • Arrivals of Bengal Gram in top seven states have decreased in the mandis during the month of May compared to April 2019.
  • Stock positions of Bengal Gram were up by 11.06 percent compared to last week held at National Commodity Clearing Limited (NCCL) approved warehouses at Bikaner, Indore and Jaipur locations. The stocks held as on May 16, 2019 it was 92,398 MT compared to 82,750 MT as on May 09, 2019.

Contango: Markets currently are in Contango or Forwardation trend where the Futures prices are higher than the Physical Spot market prices.

Market commentary: Price outlook

  • Bengal Gram prices in the physical markets are expected to trade at a range of Rs. 4,500 – 4,650 per quintal in the following weeks due to a possibility of fresh bulk buying which is expected post-election result.
  • Bengal Gram spot market prices started improving in the beginning of April however this recovery was not enough to push the prices above Minimum Support Price (MSP) level unless the expected demand increases.
  • Overall Bengal Gram prices seems to be in bullish trend in the immediate/short term.

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