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Chana Traded Mixed in Major Spot Markets

28 Sep 2020 9:15 pm
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Mumbai (Commodities control) – Chana prices traded mixed, as per quality, on Monday, in major markets amid thin mill buying at prevailing rates for immediate crushing requirement.

Moreover, thin demand in chana dal and besan was reported from consumption centres today.

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 0.4 percent or Rs 19 lower at Rs 5,400/100kg. Earlier in the day, the contract hovered in the range of Rs 5,368 and 5,483.

Open interest of top 10 trading clients in the long side was 28800 MT, whereas the short position of top ten clients was 37630 MT. The net position of top 10 clients was net short by 8830 MT.

Open interest for October contract decreased to 46640 lots against 55600 lots.

On other hand, Open interest for November contract increased to 25730 lots against 18380 lots.

Similarly, Open interest for December contract also up to 2510 lots against 1840 lots.

Chana stocks at NCDEX accredited warehouses stood at 38384 metric tonnes as on 27th 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. Depletting procured chana stock with Nafed, 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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