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Chana/Chana Dal Remains Weak At Major Spot Markets

11 Dec 2019 8:30 pm
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Mumbai (Commodities control) – Chana prices remained weak on Wednesday at major markets following weak cues from futures and dull millers' demand. Sluggish demand for chana dal and besan, amidst liquidity crunch were the reason behind weakness in Chana.

As per trade sources, Nafed has reduced the base price of procured old Chana to sell had also dampened the sentiments.

Sentiments are reeling under pressure due to recovery in Rabi Chana sowing. NAFED's stock holding keeps the price subdued. The Government agency intends to release its stocks over next few months.

Chana for December delivery on National Commodity and Derivatives Exchange (NCDEX), settled lower 1 percent or Rs 42 at Rs 4,330/100kg. Earlier, in the day, the contract hovered in the range of 4,325 and 4,390.

Open interest for NCDEX December contract decreased to 9860 lots against 11130 lots.

On other hand, open interest for January contract increased to 44980 lots against 43860 lots.

Open interest of top 10 trading clients in the long side was 36010 MT whereas the short position of top ten clients was 34700 MT. The net position of top 10 clients was net long by 1310 MT.

Chana stocks at NCDEX accredited warehouses stood at 3622 metric tonnes (Bikaner 2,890, Jaipur 732) as on 10th December, up from 3311 metric tonnes in the previous session, the exchange data showed.

Spot Chana Prices In Key Indian Markets:

(By Commoditiescontrol Bureau: +91-22-40015513)

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