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M.P-Origin Chana Trades Up in Delhi Following Firm Futures

17 Feb 2020 12:06 pm
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MUMBAI (Commoditiescontrol) – Madhya Pradesh-origin new Chana traded firm during early session at the Lawrence road market of Delhi on Monday following firm cues from futures, local millers' buying activity supported the price rise.

Moreover, regular demand in chana dal and besan from wholesale/retailer counters was reported at lower rates due to ongoing marriage season.

Millers' purchase follows their immediate requirement for crushing. Market sees sellers on the sidelines at lower rates as prices of new Chana traded below MSP, of Rs 4,875/100Kg. Market expects Government to procure large quantities of Chana at MSP this year due to bumper crop. Arrival pressure of new domestic Chana will be witnessed after holi in Maharashtra, Madhya Pradesh and Rajasthan. Chana prices will depend on Government's stock liquidation and quantity of new crop procurement. However, sell on rise will be ideal strategy for trade.

M.P-origin chana traded firm by Rs 25 at Rs 4,250/100kg. While, Rajasthan origin chana traded flat at Rs 4,300.

22 truckloads of supply arrived in the markets, up from 16 truckloads reported in the previous session.

Chana March futures were trading higher by 0.9 or Rs 35 up at Rs 4,077/100kg on National Commodity & Derivatives Exchange Ltd (NCDEX).

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

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