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Chana Remains Unchanged At Spot Markets; Chana Dal Weakens

10 Dec 2019 8:43 pm
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Mumbai (Commodities control) – Chana remained almost flat on Tuesday at major markets amid limited millers' Purchase. However, demand and sale counters in Chana dal and besan was also reported sluggish amid liquidity crunch.

Sentiments are reeling under pressure due to recovery in Rabi Chana sowing. NAFED's stock holding keeps the price subdued. The Government agency intends to release its stocks over next few months.

Chana for December delivery on National Commodity and Derivatives Exchange (NCDEX), settled firm by 0.6 percent or Rs 28 up to Rs 4,389/100kg. Earlier, in the day, the contract hovered in the range of 4,340 and 4,389.

Open interest for NCDEX December contract decreased to 11130 lots against 13640 lots.

On other hand, open interest for January contract increased to 43860 lots against 43450 lots.

Open interest of top 10 trading clients in the long side was 35960 MT whereas the short position of top ten clients was 35200 MT. The net position of top 10 clients was net long by 760 MT.

Chana stocks at NCDEX accredited warehouses stood at 3311 metric tonnes (Bikaner 2,589, Jaipur 722) as on 9th December, up from 3141 metric tonnes in the previous session, the exchange data showed.

Burma-origin kabuli chana dropped by Rs 50/100Kg at the Mumbai due to slack trade activity. Muted buying interest by besan flour millers following weak trend in Chana was the reason behind the weakness. While, Sudan, Russia and Ethiopia Kabuli Chana remained unchanged.

Spot Chana Prices In Key Indian Markets:

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

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