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Chana Traded Mixed in Selective Spot Markets

5 Aug 2020 7:54 pm
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Mumbai (Commodities control) – Chana prices were mixed in a narrow range, as per quality, on Wednesday, in selected markets amid limited mill buying for immediate requirement for crushing.

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

Moreover, sentiments are dampened due to Nafed’s liquidation and free distribution of grains every month under PM Garib Kalyan Anna Yojana till November end. However, Nafed is not interested in liquidating its stock below Rs 4,500/100Kg.

Chana for August delivery on National Commodity and Derivatives Exchange (NCDEX) settled 0.2 percent or Rs 8 lower at Rs 4,130/100kg. Earlier in the day, the contract hovered in the range of Rs 4,124 and 4,149.

Open interest of top 10 trading clients in the long side was 45660 MT, whereas the short position of top ten clients was 49540 MT. The net position of top 10 clients was net short by 3880 MT.

Open interest for August contract decreased to 32540 lots against 37290 lots.

On other hand, Open interest for September contract increased to 61850 lots against 58100 lots.

Similarly, Open interest for October contract also up to 5970 lots against 5530 lots.

Chana stocks at NCDEX accredited warehouses stood at 72210 metric tonnes as on 4th August, up from 72051 metric tonnes in the previous session, the exchange data showed.

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

Spot Chana Prices In Key Indian Markets:



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


       
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