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Chana Traded Weak in Major Spot Markets

3 Dec 2020 9:45 pm
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Mumbai (Commodities control) – Chana prices slipped by Rs 25-100/100kg, as per quality, on Thursday, in major markets amid thin mills buying activity despite firm cues from futures.

Today NAFED changed its stance to allow open bidding without any base price.It provided little support as cheaper supplies available in market found few buyers.

But, market Sources reveal that Nafed had rejected all bids of Chana today. Highest bid in Madhya Pradesh was 4,550, Rajasthan 4,740 and Maharashtra 4,453.

Resellers were active to liquidate Nafed procured Chana stock of Crop 2019 & 2020.

Chana for December delivery on National Commodity and Derivatives Exchange (NCDEX) settled 0.6 percent or Rs 28 higher at Rs 4,817/100kg. Earlier in the day, the contract hovered in the range of Rs 4,737 and 4,860.

Open interest of top 10 trading clients in the long side was 31450 MT, whereas the short position of top ten clients was 20840 MT. The net position of top 10 clients was net long by 10610 MT.

Open interest for December contract decreased to 28,760 lots against 33,360 lots.

On other hand, Open interest for January contract increased to 33,400 lots against 29,630 lots.

Chana stocks at NCDEX accredited warehouses stood at 27761 metric tonnes as on 2nd December, up from 27720 metric tonnes 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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