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Pulses commentary: Chana futures to keep the support at lower levels

27 Jan 2021 7:22 pm
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Mumbai (Commodities Control) – NCDEX Chana futures traded 29 Rs up to close at 4497 Rs per Qtl during today trade.

As anticipated earlier, Chana futures took support after previous session fall and attracted demand from lower levels.

Millers are currently at bare minimum stock levels and demand in besan and dals could trigger buying in Chana.

The standing crops looks stable, backed by weather in key crop regions. It has 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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