MUMBAI (Commoditiescontrol) – Imported Chana edged lower during the closing trade session at Mumbai major pulses market on Wednesday due to dull trade activity, rise in sowing figures of Chana accompanied with poor cues from futures market.
Australia origin Chana at Mumbai and Mundra port fell by Rs.50 to Rs.4,850 and Rs.4,900 per quintal respectively.
The Rabi sowing progress of Chana jumped up by 38.21% to 60.69 lakh HA in 2017-18 against 43.91 lakh HA in the similar period previous year.
Moreover, absence of demand from retailers and wholesalers for Chana dal had also restricted the commodity from upside.
As per our technical reports, Expect consolidation in Chana (Indore Spot) at lower range (Full Report).
At National Commodity and Derivatives Exchange (NCDEX) Chana for December contract plunged by 2.13 per cent or Rs.103 at Rs.4,726/100Kgs. Earlier in the day, the contract had slid to Rs.4,690 and touched a high of Rs.4,802.
Meanwhile in Delhi, crop of Rajasthan origin Chana traded flat at Rs.4,900/100Kgs amid thin demand from millers and traders.
Besides, at Indore Chana Kantewala variety edged lower by Rs.50 at Rs.4,400/100Kgs due slack trade activity.
(By Commoditiescontrol Bureau; +91-22-40015523)