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Chana Trade Mixed At Selective Spot Markets

7 Jul 2020 8:43 pm
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Mumbai (Commodities control) – Chana prices were mixed, as per quality, on Tuesday, in selected 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 NAFED's liquidation of old stock of chana in selected states. However, Nafed is not interested in liquidating stock below Rs 4,500/100Kg.

Trade activity is lukewarm as some markets are shut due to lockdown and labour shortage.

As per market talk, current levels of Chana prices are attractive for millers/traders due to cheaper pulses and reducing arrivals. 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 0.1 percent or Rs 4 higher at Rs 4,128/100kg. Earlier in the day, the contract hovered in the range of Rs 4,121 and 4,151.

Open interest of top 10 trading clients in the long side was 40730 MT, whereas the short position of top ten clients was 49550 MT. The net position of top 10 clients was net short by 8820 MT.

Open interest for NCDEX July contract decreased to 18940 lots against 26540 lots.

On other hand, Open interest for August contract increased to 61590 lots against 55240 lots.

Similarly, Open interest for September contract also up to 7360 lots against 6630 lots.

Chana stocks at NCDEX accredited warehouses stood at 63869 metric tonnes as on 6th July, up from 63228 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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