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Chana futures had free fall today, triggered by demand void

26 Nov 2020 7:53 pm
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Mumbai (Commodities Control) – NCDEX Chana Dec 20 futures today fell by 100 Rs to settle at 5065 Rs/Qtl.


As anticipated earlier, chana futures resumed its poor show on lack of demand on sport market.


Chana Akola spot today was offered at 5000/5050 Rs/Qtl for k20 stocks. Chana dal demand remained extremely quiet with offers at 5900/6000 Rs/Qtl.


There were no bids at NAFED/FCI tenders for today as well as anticipated earlier. Now that the spread between spot market price and base rate for tender has widen the possibility of any bids can be ruled out for near term.


NCDEX Chana futures are likely to remain weak, to trade towards support of 5000 Rs/Qtl.


(Commodities Control Bureau)


       
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