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Chana Declines in Major Mkts Amid Weak Futures

26 Nov 2020 8:31 pm
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Mumbai (Commodities control) – Chana prices declined by Rs 50-150/100kg, as per quality, on Thursday, in major markets on thin mill buying and weak cues from futures.

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

Chana dal demand was muted.

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.

Chana for December delivery on National Commodity and Derivatives Exchange (NCDEX) settled 1.9 percent or Rs 100 at Rs 5,065/100kg. Earlier in the day, the contract hovered in the range of Rs 5,011 and 5,160.

Open interest of top 10 trading clients in the long side was 38060 MT, whereas the short position of top ten clients was 26090 MT. The net position of top 10 clients was net long by 11970 MT.

Open interest for December contract decreased to 44,770 lots against 47,310 lots.

On Other hand, Open interest for January contract increased to 20,150 lots against 18,010 lots.

Chana stocks at NCDEX accredited warehouses stood at 26769 metric tonnes as on 25th November, similar in the previous session, the exchange data showed.

Spot Chana Prices In Key Indian Markets:

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

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