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Chana Remain Weak in Selective Spot Mkts

13 Jan 2021 7:51 pm
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Mumbai (Commodities control) – Chana prices remained weak by Rs 25-100/100kg, as per quality, on Wednesday, in selected markets following weak cues from futures and thin mill buying.

Demand and sale counter in Chana dal-besan reported dull.

Regular changes in Nafed selling base prices and NCDEX future market pressurised the spot prices.

Moreover, Chana prices pressurised due to on going rampant sowing pace and also government holding procured stock and active in clearing its stock as early as possible.

Arrivals of new chana expected to hit spot market soon.

Trade activity also witnessed thin as few markets was closed due to Amavasya.

Chana for January delivery on National Commodity and Derivatives Exchange (NCDEX) settled 0.8 percent or Rs 35 lower at Rs 4,414/100kg. Earlier in the day, the contract hovered in the range of Rs 4,410 and 4,471.

Open interest of top 10 trading clients in the long side was 15550 MT, whereas the short position of top ten clients was 17000 MT. The net position of top 10 clients was net short by 1450 MT.

Open interest for January contract decreased to 5,600 against 7,380 lots.

On other hand, open interest for March contract increased to 30,270 against 29,600 lots.

Chana stocks at NCDEX accredited warehouses stood at 8572 metric tonnes as on 12th January, down from 8784 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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