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Chana Traded Mixed in Spot Mkts

21 Jan 2021 7:54 pm
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Mumbai (Commodities control) – Chana prices traded mixed, as per quality, on Thursday, in major markets amid limited mill buying as demand in Chana dal and besan reported slow from consumption centers.

Increasing selling pressure of old procured stock by Nafed has pressurised the sentiments.

Nafed Approved Bid of 300 MT Chana Rabi 2020 At Rs 4,601/100Kg in Karnataka on 20th January, 2021.

Stable weather in major crops regions have increased the probability of higher crop output this season.

Arrivals of new chana expected to hit spot market soon.

We expect demand to emerge at lower levels. Key point in favour of more buying in spot is majority of millers are currently at lower end of stocks due to end of seasons and massive fall in prices.

Chana for March delivery on National Commodity and Derivatives Exchange (NCDEX) settled 1.6 percent or Rs 70 higher at Rs 4,485/100kg. Earlier in the day, the contract hovered in the range of Rs 4,391 and 4,485.

Open interest of top 10 trading clients in the long side was 15960 MT, whereas the short position of top ten clients was 19870 MT. The net position of top 10 clients was net short by 3910 MT.

Open interest for March contract increased to 34,080 against 33,790 lots.

Similarly, Open interest for April contract also up to 2,570 against 1,800 lots.

Chana stocks at NCDEX accredited warehouses stood at 4387 metric tonnes as on 20th January, down from 5727 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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