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Chana Traded Mixed in Major Spot Mkts

24 Feb 2021 8:57 pm
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Mumbai (Commodities control) – Chana prices traded mixed, as per quality, on Wednesday, in major markets.

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

According to the Government’s second advance estimates for 2020-21, Chana production is estimated at 116.2 lt against the 2019-20 final estimates of 110.8.

As on February 22, 2021, NAFED has procured 37.85 MT of Chana in Andhra Pradesh at MSP of Rs 5,100.

Nafed has sold Rabi 2020 procured Chana at Rs 4,590/100Kg in Haryana, Rs 4,596-4,601 in Madhya Pradesh, Rs 4,561 in Uttar Pradesh and Rs 4,511-4,589 in Telangana on 23rd February, 2021.

Chana for March delivery on National Commodity and Derivatives Exchange (NCDEX) settled tad up or Rs 4 higher at Rs 4,622/100kg. Earlier in the day, the contract hovered in the range of Rs 4,602 and 4,654.

Open interest of top 10 trading clients in the long side was 20830 MT, whereas the short position of top ten clients was 33480 MT. The net position of top 10 clients was net short by 12650 MT.

Open interest for March contract decreased to 30,550 against 31,220 lots.

On other hand, open interest for April contract increased to 22,650 against 21,480 lots.

Chana stocks at NCDEX accredited warehouses stood nil.

Spot Chana Prices In Key Indian Markets:

(By Commoditiescontrol Bureau; +91-22-40015513)

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