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Chana Trade Mixed in Spot Markets On Millers' Limited Off take

28 Jan 2020 7:56 pm
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Mumbai (Commodities control) – Chana prices traded mixed on Tuesday at major markets amid slow millers' buying activity, just enough to meet their immediate requirement for crushing.

Demand and sale counter in Chana dal/besan witnessed thin activity.

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

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

As per market view, millers will prefers to purchase new Chana from Karnataka/Maharashtra as they were traded below Rs 4,000/100Kg, instead of purchasing old Nafed procured Chana. Availability of new Chana at lower price likely to drag Chana prices more down.

Chana for March delivery on National Commodity and Derivatives Exchange (NCDEX), settled firm by 0.6 percent or Rs 26 up at Rs 4,072/100kg. Earlier, in the day, the contract hovered in the range of Rs 4,037 and 4,088.

Open interest for NCDEX March contract increased to 22270 lots against 21720 lots.

Similarly, open interest for April contract decreased to 8150 lots against 8110 lots.

Open interest of top 10 trading clients in the long side was 11820 MT whereas the short position of top ten clients was 18930 MT. The net position of top 10 clients was net short by 7110 MT.

Chana stocks at NCDEX accredited warehouses stood at 892 metric tonnes (Bikaner 821, Jaipur 71) as on 27th 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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