Login ID:
Password:
Partner Login
Contact Us : 7066511911

Chana Trades Weak In Delhi Amid Thin Buying

18 Feb 2020 12:02 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

MUMBAI (Commoditiescontrol) – Rajasthan and Madhya Pradesh-origin Chana traded weak at the Lawrence road market of Delhi, on Tuesday, amid thin buying by local millers at higher rates despite less supply and stable futures.

NAFED is selling its old stock, in selected states, while availability of new domestic Chana is pressuring sentiments.

The demand for chana dal and besan from consumption centres was reported to be limited.

Rajasthan and Madhya Pradesh-origin chana fell by Rs 15-25 each at Rs 4,335/100kg and Rs 4,275, respectively.

Trade body reported 10 truckloads of supply in the markets, down from 22 truckloads in the previous session.

Chana March futures were trading firm by 0.1 or Rs 5 up at Rs 4,090/100kg on National Commodity & Derivatives Exchange Ltd (NCDEX).

As per market view, millers' purchase follows their immediate requirement for crushing. Market sees sellers on the sidelines as prices of new Chana traded below MSP, of Rs 4,875/100Kg.

Government is likely 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.

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


       
  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated
0.0

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  
   

Top | Post Comment  

Latest Market Commentary
Edible Oil Discharge At Indian Port Slows Due To Lockdo...
CBoT Soybean Settles Up For 2nd Consecutive Week Buoyed...
Balance Stock Of Oilseed Under PSS With NAFED As On 25 ...
BMD CPO Ends Nearly 1% Higher As Malaysia Announces $58...
Palm Complex CPO (Jun. 20) Consolidating in a Down...
more
Top 5 News
Balance Stock Of Pulses Under PSS With NAFED As On 26 M...
Edible Oil Discharge At Indian Port Slows Due To Lockdo...
Govt Fixes Sugar Sale Quota At 18 Lakh Tonnes For April...
ICE Raw Sugar Slips On Weaker Global Consumption Estim...
CBoT Soybean Settles Up For 2nd Consecutive Week Buoyed...
Top 5 Special Reports
Weekly: Technicals Indicate Further Price Correction Fo...
USD/INR (Mar. 20) Loss of Upside Momentum Triggers a...
USD/INR (Mar. 20) Trending Higher / Next Potential R...
USD/INR (Mar. 20) Trending Higher / Next Potential R...
USD/INR (Mar. 20) Short-term Extended / Book Profits...
Copyright © CC Commodity Info Services LLP. All rights reserved.