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Pulses commentary: Chana futures rise on steady demand ; Tur slightly improve

3 Mar 2021 6:01 pm
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Mumbai (Commodities Control) – NCDEX Chana futures traded 48 Rs higher to close at 5030 Rs/Qtl in yesterday’s session.

As anticipated earlier, chana futures traded at 5000 Rs/Qtl today on back of supply tightness and fresh buying from corporates.

In yesterday’s bidding Madhya Pradesh Chana touched 5000 Rs/Qtl level while highest bid in Rajasthan went up to 4910 Rs/Qtl showing tightness in supply.

Nafed is most likely to discontinue auctions before 10th March, it will further led to tightness in supply.

The demand in dals and besan , however, remained lukewarm, Chana dal Akola spot traded at 6100/6200 Rs/Qtl.

The demand in tur and tur dals also remained sluggish. Buyers in tur have their pipeline full but rolling is dull due to quite demand.

Physical spot prices have traded in range of 7100/7250 Rs per qtl for best quality at Maharashtra and Karnataka.

Going forward, Chana futures are to find support towards 4600 Rs/ qtl and trade towards 5000/5150 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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