Various factors supported the market sentiment during the week under review, including active buying participation by traders, stockists, and millers amid lower Chana arrivals in market yards. Additionally, there was a slight increase in Australian C&F quotes and expectations that government agencies might start procurement above the MSP of INR 5,440 per quintal. Arrivals during the week reportedly decreased by 17% to 55,698 MT from 67,082 MT during the same period last year. Meanwhile, Australian Chana C&F offers increased by $20 to $860 per MT, based on Indian ports.

Chana prices are expected to move up by INR 200-300 per quintal taking cue from buying support by market stakeholders amidst lower domestic crop production and carry-in this year. Procurement process by Govt. agencies is also likely to buoy the firm sentiments. However, Govt. curative measures like stock limit, sell of stocks within a stipulated timeframe may cap the prices.