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Pulses commentary: Chana futures stay flat ; Tur reported firm

24 Feb 2021 7:00 pm
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Mumbai (Commodities Control) – NCDEX Chana futures traded 4 Rs higher to close at 4622 Rs/Qtl in today’s session.


Chana futures traded firm today taking support at lower levels adhering to 4600 per qtl as strong resistance levels.


Arrivals of Chana in key mandis remained tight with major mandis like Dariyapur and Latur reporting just 5k-8k bags against expected 12k-15k levels.

Lower arrivals has created tightness in spot availability of Chana for millers who are now trying to cover their requirement. Aggressive buying stance has increased pressure on spot prices.


The demand in dals and besan has improved with prices hovering at lower levels. Chana dal Akola spot was reported to traded at 5700/5800 Rs/Qtl.


Tur trade were reported firm with slight demand in tur dals coming in to the market.


Physical spot prices have traded at 7100/7200 Rs per qtl for best quality at Maharashtra and Karnataka.


Chana futures prices are to find support towards 4600 Rs/ qtl and trade towards 4800/4850 Rs/Qtl by coming sessions.


We expect Tur spot Akola prices to remain above 7000 Rs/Qtl and trade towards 7600/7800 Rs/Qtl in coming days.


(Commodities Control Bureau)


       
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