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Chana Eases At Major Spot Markets As Acreage Ups 10%

17 Jan 2020 8:02 pm
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Mumbai (Commodities control) – Chana prices eased for second straight day, on Friday's session, at major markets, following weak cues from futures and guarded purchase by the millers at prevailing rates.

Sentiments are reeling under pressure due to improvement in Rabi Chana sowing and Government holding major stocks.

Demand in chana dal and besan from wholesaler, retailer counters are slack.

Meanwhile, steady arrivals of new domestic Chana is witnessed in selected markets of Karnataka and Maharashtra.

As per market sources, rainfall was reported, in many markets of Madhya Pradesh and Uttar Pradesh. Arrivals of new Chana will be delayed due to late sowing and weather concerns. However, it will not affect the new Chana crop, as it is yet to reach the flowering stage.

Chana for March delivery on National Commodity and Derivatives Exchange (NCDEX), settled weak by 0.6 percent or Rs 25 down at Rs 4,262/100kg. Earlier, in the day, the contract hovered in the range of Rs 4,255 and 4,316.

Open interest for NCDEX January contract decreased to 1050 lots against 1640 lots.

On other hand, open interest for NCDEX March contract increased to 23480 lots against 21740 lots.

Similarly, open interest for April contract also up to 2880 lots against 2780 lots.

Open interest of top 10 trading clients in the long side was 12060 MT whereas the short position of top ten clients was 14040 MT. The net position of top 10 clients was net short by 1980 MT.

Chana stocks at NCDEX accredited warehouses stood at 1092 metric tonnes (Bikaner 971, Jaipur 121) as on 16th January, similar 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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