Industry insiders attribute the price surge to growing clarity around monsoon-driven crop deficits compounded by festive demand. An analysis of data from industry body Indian Pulses and Grains Association (IPGA) showed wholesale prices of the key pulses jumped sharply in the last one month. The month-on-month increase in price of chana, the largest consumed pulse in India, increased by 11% ex-Delhi, while the week-on-week increase is 5.5%.
The price of tur, the second largest consumed pulse, rose 6.5% in the last one month and by 2.4% in the last one week. Moong jumped 10.6% in the last one month and 4.3% in the last one week, while the price of matar is up 6% in a month and 3% in the last one week.
The year-on-year increase in prices of chana is 23%, urad 24%, and 44%, while it is 47% for matar. The prices of masur and moong have increased moderately by 2% and 4% respectively during last one year. Industry executives say that the impact of El Nino became clearer in the last one month as states like Karnataka and Maharashtra declared drought in large parts of their territory. “Chana prices have increased due to multiple factors. There are concerns about rabi sowing due to moisture stress. The availability of chana from Australia is expected to be lower than last year, while the prices of yellow peas, which can be used as a substitute for chana, have increased in the international market,” said Satish Upadhyay, secretary, IPGA.
“At the same time, there is an uptick in the festival demand,” he added. Yellow pea OR matar have increased as the supplies from Russia have reduced due to its ongoing war with Ukraine.