Exempt ‘chana’ from future trading: Traders

Source: The Hitavada      Date: 17 Jan 2018 10:02:56


Business Bureau,

The falling prices of chana (gram) appears to have been giving tough times to farmers and dealers as they are demanding the policy makers to take corrective step as the earliest possible. They are saying that the recent changes in the policy with regard to the commodity has been failing to support prices of the commodity which I eventually causing huge financial loss to the chana growers.

Attributing the sharp fall in chana (gram) prices to its in the future trading, the grain merchants and farmers are urging the Union Government bring out chana from the commodity market.

Expressing his views on the issue, Pratap Motwani, Secretary of the Wholesale Grain and Seeds Merchant Association, said since the Government included chana in the commodity market, its prices have been diluting every passing day.

“The speculators in the commodity market have caused irreparable loss to the commodity. Gram was trading at a price of Rs 5000-5500 per tonne in the last season but now it has slipped well below its minimum support price (MSP),” he said adding that the prevailing prices of chana are hovering in the range of Rs 3,900 to Rs 4,000 per tonne.
On the other hand, farmers are also expressing dissatisfaction over the prevailing market trends.

“We were expecting good returns from the commodity in the current season but things are not falling in place for us. We want the Government to make necessary changes in the policy to safeguard the interests of the farmers,” said one of the farmers on a condition of anonymity.
Apart from this, the farmers and the traders believe that the prices would further fall and deteriorate the market conditions for the commodity.

“As the condition were very suitable for chana cultivation, the area under chana cultivation in the country has gone up by about 15 to 20 per cent. This will bring in additional stock of chana in the markets in coming days,” Motwani said. It is important to note that the Government has recently imposed 30 per cent duty of chana import but the decision has failed to support the prices in the domestic markets.