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Chana Trade Mixed At Major Spot Markets

6 Jul 2020 9:55 pm
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Mumbai (Commodities control) – Chana prices were mixed , as per quality, on Monday, in major markets amid limited mills' buying and ongoing arrivals.

Actual demand in chana dal and besan from consumption centres was reported to be slow.

Meanwhile, sentiments are dampened on NAFED's moveo;selling old stock of chana in selected states. However tenders were rejected due to low bid, as per market sources. Nafed is not interested in liquidating stock below Rs 4,500/100Kg.

As per market talk, current levels of Chana prices are attractive for millers/traders due to cheaper pulses. Even consumption is likely to increase in coming days as festive period begins next month till Diwali. Meanwhile, prices in spot markets traded much below MSP of Rs 4,875.

Chana for July delivery on National Commodity and Derivatives Exchange (NCDEX) settled 0.2 percent or Rs 9 lower at Rs 4,120/100kg. Earlier in the day, the contract hovered in the range of Rs 4,105 and 4,161.

Open interest of top 10 trading clients in the long side was 40590 MT, whereas the short position of top ten clients was 49250 MT. The net position of top 10 clients was net short by 8660 MT.

Open interest for NCDEX July contract decreased to 26540 lots against 29870 lots.

On other hand, Open interest for August contract increased to 55240 lots against 51490 lots.

Similarly, Open interest for September contract also up to 6630 lots against 5680 lots.

Chana stocks at NCDEX accredited warehouses stood at 63228 metric tonnes as on 5th July, up from 61454 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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