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Chana/Chana Dal Traded Lower in Major Spot Markets

22 Oct 2020 8:44 pm
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Mumbai (Commodities control) – Chana prices traded lower Rs 50-150/100Kg, as per quality, on Thursday, in major markets following weak cues from futures, thin mill buying and supply of Chana/Kabuli Chickpea from overseas.

Demand in dal/besan are dull even with Diwali season lying ahead.

Chana spot trades are weak and small traders with stocks in hand, expecting increased consumption during festive period are selling aggressively at discount to cut their positions and book profit and exit. NAFED Chana resellers were active in spot markets.

However, NAFED has suspended all Chana sell auctions till further notice.

Chana for November delivery on National Commodity and Derivatives Exchange (NCDEX) settled 0.5 percent or Rs 29 lower at Rs 5,313/100kg. Earlier in the day, the contract hovered in the range of Rs 5,275 and 5,363.

Open interest of top 10 trading clients in the long side was 28150 MT, whereas the short position of top ten clients was 32360 MT. The net position of top 10 clients was net short by 4210 MT.

Open interest for November contract decreased to 55590 lots against 57740 lots.

On other hand, Open interest for December contract increased to 13100 lots against 11380 lots.

Chana stocks at NCDEX accredited warehouses stood at 40609 metric tonnes as on 21st October, similar metric tonnes in the previous session, the exchange data showed.

As per market talk, Chana prices are likely be underpinned at lower rates due to demand hopes of increased consumption amid festive season. Negligible overseas supplies of White Pea will likely support Chana prices further.

Spot Chana Prices In Key Indian Markets:

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

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