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Chana-Chana Dal Extend Gains in Selective Spot Markets

25 Sep 2020 9:11 pm
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Mumbai (Commodities control) – Chana prices extended gains of Rs 25-100/100Kg, as per quality, on Friday, in selected markets amid improved mill buying activity and declining stocks with NAFED.

Meanwhile, good demand in chana dal and besan from consumption centres continues to support the pulse price.

Nafed has been active at liquidating stocks at higher rate and rejected bids of lower rates.

Chana for October delivery on National Commodity and Derivatives Exchange (NCDEX) settled 2.2 percent or Rs 117 higher at Rs 5,383/100kg. Earlier in the day, the contract hovered in the range of Rs 5,245 and 5,443.

Open interest of top 10 trading clients in the long side was 26840 MT, whereas the short position of top ten clients was 34910 MT. The net position of top 10 clients was net short by 8070 MT. Open interest for October contract increased to 55600 lots against 52720 lots.Similarly, Open interest for November contract also up to 18380 lots against 16170 lots. Open interest for December contract also higher to 1840 lots against 1200 lots.

Chana stocks at NCDEX accredited warehouses stood at 38384 metric tonnes as on 24th September, unchanged from the previous session, the exchange data showed.

As per market talk, Chana prices are likely be underpinned as consumption may continue amid festive season. Negligible overseas supplies of White Pea will likely support Chana prices further. However, supply of Kabuli Chickpea witnessed, but parity is higher.

Demand of seeds for sowing is expected to rise as rabi sowing begins from October.

Spot Chana Prices In Key Indian Markets:

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

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