Pulses commentary: Chana futures slashed lower on profit booking; Tur reported lower

Mumbai (Commodities Control) – NCDEX Chana futures traded 64 Rs lower to close at 4970 Rs/Qtl during today’s trade.

Chana futures traded lower today on back of weak demand from dals and besan counters.

Weak demand in dals and besan kept the market on its toes with millers already full with their pipeline in anticipation of higher demand in dals.

Going forward, festive demand specially from Maharashtra and Southern states is expected to hit the market with buying for dals and besan counter.

Chana dal Akola spot traded at 6000/6100 Rs/Qtl.

The demand in tur and tur dals also were reported lower today continuing its weaker stance since last week.

Tur spot prices have traded lower in range of 6950/7050 Rs per qtl for best quality at Maharashtra and Karnataka.

Going forward, Chana futures are to find support towards 4850 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)