There has been a strong uptick in the commodity market. On the NCDEX, the June contract of gram (chana) has reached around Rs. 4700 per quintal.
Estimates of gram chana yield reduction this year. Besides seasonal demand is also good, due to which the price of gram chana in the spot market can touch the level of 5000-5200 rupees per quintal from July-August.
Angel Commodity Deputy Vice President (Commodity & Currency) Anuj Gupta says that due to heavy import duties the imports are down. 60% import duty is charged on gram. In the current session, NAFED has set a target of 2 million tonnes of gram procurement. NAFED has removed tender for 1.75 lakh bags of mung in Rajasthan. So far, the minimum support price (MSP) of gram for the current Rabi season is Rs 4,620 per quintal.
Ravi Singh, Research Head, Karvy Stock Broking, says that due to the weddings season in the country, the demand is good. Apart from this, the government has increased the import tariff. In this way, the prices of gram can continue in the trend. By August, gram prices can cross Rs 5000 per quintal in futures.
Indore's gram Traders Raghav Jain says that the supply in the spot is very low, while the demand is very good. In such a situation, there is a possibility of the pace of fasting. The gram yield in Rajasthan, Madhya Pradesh is less than the previous year. This can lead to strong prices. ..
As per the second advance estimate of the government, gram production is expected to be 103.2 lakh tonnes during 2018-19. This year, 111 million tonnes of production was produced. The total production of pulses is estimated to increase to 240.2 lakh tonnes in the crop season 2018-19, as against 239.5 lakh tonnes in the previous year.
For more information click on Shield research
Angel Commodity Deputy Vice President (Commodity & Currency) Anuj Gupta says that due to heavy import duties the imports are down. 60% import duty is charged on gram. In the current session, NAFED has set a target of 2 million tonnes of gram procurement. NAFED has removed tender for 1.75 lakh bags of mung in Rajasthan. So far, the minimum support price (MSP) of gram for the current Rabi season is Rs 4,620 per quintal.
Ravi Singh, Research Head, Karvy Stock Broking, says that due to the weddings season in the country, the demand is good. Apart from this, the government has increased the import tariff. In this way, the prices of gram can continue in the trend. By August, gram prices can cross Rs 5000 per quintal in futures.
Indore's gram Traders Raghav Jain says that the supply in the spot is very low, while the demand is very good. In such a situation, there is a possibility of the pace of fasting. The gram yield in Rajasthan, Madhya Pradesh is less than the previous year. This can lead to strong prices. ..
As per the second advance estimate of the government, gram production is expected to be 103.2 lakh tonnes during 2018-19. This year, 111 million tonnes of production was produced. The total production of pulses is estimated to increase to 240.2 lakh tonnes in the crop season 2018-19, as against 239.5 lakh tonnes in the previous year.
For more information click on Shield research
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