Chana?Chickpea Prices Skyrocket: Reaches ₹10,000 per Quintal

Good news for farmers engaged in gram cultivation! The prices of chickpeas, commonly known as chana, are experiencing a significant surge in recent days. Across most mandis (marketplaces) in the country, the prices of chana have surpassed the Minimum Support Price (MSP). Notably, Maharashtra's Shadha Mandi has recorded the highest price for chana, crossing the ₹10,000 per quintal mark. The latest reported price in Shadha Mandi stands at ₹10,351 per quintal.

This surge in chana prices is a welcome development for farmers, especially those who have stored their chana produce. It presents a lucrative opportunity for them to sell their harvest at higher rates in the current market. However, the dynamics of chana prices vary across different states, showcasing the diversity in agricultural landscapes.

MSP and Current Market Prices: 

The Central Government has set the MSP for chana at ₹5,440 per quintal for the year 2024. Despite this, the market prices have soared well above the MSP, providing farmers with a favorable selling environment. The rise in prices is attributed to various factors, including reduced sowing leading to a potential 15% decline in chana production this year.

Market Dynamics and Future Trends:

Market analysts suggest that the recent spike in chana prices, witnessing an increase of ₹200 to ₹300 per quintal in the last ten days, is driven by a surge in demand, particularly during the wedding season. As demand continues to rise, the average market price for chana could reach ₹6,350, with the potential to surpass ₹10,000 per quintal in certain markets.

Farmers in states like Madhya Pradesh, Maharashtra, Rajasthan, and Gujarat, which collectively contribute approximately 75% of the country's chana production, are likely to benefit the most from the current market conditions. These states play a pivotal role in meeting the national demand for chickpeas.

Challenges and Future Predictions:

Despite the optimistic outlook, challenges such as uncertainties in production due to reduced sowing could impact the overall availability of chana. As the new crop is yet to arrive, market dynamics might witness fluctuations, and prices could experience a decline post-harvest.

Prices: 

Kanpur Mandi: Chana Price - ₹7,200 per Quintal

Gazipur Mandi: Chana Price - ₹7,270 per Quintal

Farukhabad (Kayamganj) Mandi: Chana Price - ₹6,950 per Quintal

Muzaffarnagar (Shamli) Mandi: Chana Price - ₹7,100 per Quintal

Pratapgarh Mandi: Chana Price - ₹7,650 per Quintal

Sultanpur Mandi: Chana Price - ₹7,330 per Quintal

Bahraich (Nanpara) Mandi: Chana Price - ₹7,090 per Quintal

Ramkrishnapur (Howrah) Mandi: Chana Price - ₹9,200 per Quintal

Medinipur (W) Mandi: Chana Price - ₹8,500 per Quintal

Bangalore Mandi: Chana Price - ₹7,900 per Quintal

Shimoga Mandi: Chana Price - ₹7,900 per Quintal

In conclusion, the surge in chana prices brings hope and opportunities for farmers, offering them a chance to maximize their profits. However, the future trajectory of chana prices remains uncertain, influenced by factors like demand fluctuations, production variations, and overall market dynamics. As the agricultural landscape continues to evolve, farmers are advised to stay informed and make informed decisions to navigate these market trends effectively.

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