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Chana Declines At Major Markets Amid Weak Futures

26 May 2020 5:46 pm
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Mumbai (Commodities control) – Chana prices declined on Tuesday as per quality, at major markets, following weak cues from futures, ongoing domestic arrivals and thin millers' trade at prevailing rates.

Even demand for chana dal and besan was lukewarm at wholesale/retail counters due to availability of sufficient stock.

NAFED's stock liquidation at selected states, stock holding and higher output estimates will contiue to weigh on prices.

Moreover, sentiments have dampened after Reserve Bank of India (RBI) Governor Shaktikanta Das said that the elevated level of pulses inflation is worrisome and warrants timely and swift supply side interventions, including a re-appraisal of the import duties.

Chana for June delivery on National Commodity and Derivatives Exchange (NCDEX) settled 0.7 or Rs 27 weak at Rs 4,061/100kg. Earlier in the day, the contract hovered in the range of Rs 4,035 and 4,085.

Open interest of top 10 trading clients in the long side was 21190 MT, whereas the short position of top ten clients was 28060 MT. The net position of top 10 clients was net short by 6870 MT.

Open interest for NCDEX June contract decreased to 29000 lots against 30380 lots.

On other hand, open interest for July contract increased to 15720 lots against 11200 lots.

Chana stocks at NCDEX accredited warehouses stood at 12988 metric tonnes as on 25th May, up from 12748 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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