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Chana (Chickpeas) News - Pressure Continues On Chana Market
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Pressure Continues On Chana Market

Chana cash market is likely to trade under pressure and recent recovery seems temporaryas Nafed’s unstable chana releasing strategy continues to affect market directly at a time when area is up by 5 % and the new crop is hardly one and a half month away. Nafed continued to fix reserve price and changed it frequently from Rs 5600  to Rs5100,again Rs5100 to Rs4875. Apart from it it has offered 5 to 10 % discount over previous MSP on particular centers. As offtake from central pool is lower, Nafed may decrease price further to vacate storage space for new procurement. It would not allow chana cash market to go up beyond a certain level.  Delhi chana is being traded at Rs4550-4650. Demand is weak. Weather condition in Jan –Feb remains crucial. Overall sentiments seems weak.