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Chana Prices To Hold On Robust Rise In Prices

28 Sep 2020 10:33 am
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Mumbai Commodities Control - Chana prices opened positive early Monday trading at Rs 5440, up Rs 21 for October 2020 futures.

Rise in prices came on the back of depleting chana stocks, nationwide. According to one of sources, there is rumour about decrease in import duty on Chana, which is currently at 60%, to ease supply in local market. It could potentially halt the rally in prices seen since last few weeks.

Firmness in price of Tur, Urad and Moong have provided further support to prices. The reselling of NAFED Chana sold between 4400/5100 is still active in market. The profit booking in physical tender Chana is strong as well and keep the prices in check from any aggressive rise.

We are expecting a positive bias in Chana prices towards Rs 5420-5500 in next few sessions.

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