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Pulses commentary: Chana futures take support at lower levels; bargain buying hits

21 Jan 2021 8:17 pm
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Mumbai (Commodities Control) – NCDEX Chana most active March contract today rise by 70 Rs/Qtl to close at 4485 Rs/Qtl.

Chana futures traded strong on bargain buy at lower levels. As anticipated earlier, we mentioned that millers are currently at bare minimum stock levels and any demand in besan and dals could trigger buying in Chana.

On crops, stable weather in major crops regions have increased the probability of higher crop output this season. Acreage under Chana jumped 5.77%, improved yield may result in higher production by 5-8% as compared to last crop year.

In spot market Chana Akola was offered at 4450/4500 Rs/Qtl, while Chana dal Akola spot was offered at 5300/5350 Rs/Qtl.

Chana futures are to find support towards 4400 Rs/ qtl and trade towards 4600/4650 Rs/Qtl by coming sessions.

(Commodities Control Bureau)

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