Mumbai (Commodities control) – Chana prices traded mixed for second straight day on Wednesday at major markets amid slow millers' buying activity, just enough to meet their immediate requirement for crushing.
Regular demand and sale counter in Chana dal/besan witnessed due to ongoing marraige season. Meanwhile, Chana dal is much cheaper compare to Vatana dal and Lakhadi dal.
Sentiments are reeling under pressure due to improvement in Rabi Chana sowing and Government holding major stocks.
Meanwhile, arrivals of new domestic Chana is witnessed in selected markets of Karnataka and Maharashtra.
As per market view, millers will prefers to purchase new Chana from Karnataka/Maharashtra as they were traded below Rs 4,000/100Kg, instead of purchasing old Nafed procured Chana. Availability of new Chana at lower price likely to drag Chana prices more down.
Chana for March delivery on National Commodity and Derivatives Exchange (NCDEX), settled weak by 0.7 percent or Rs 30 down to Rs 4,030/100kg. Earlier, in the day, the contract hovered in the range of 4,025 and 4,083.
Open interest for NCDEX March contract increased to 23080 lots against 22270 lots.
Similarly, open interest for April contract increased to 8320 lots against 8150 lots.
Open interest of top 10 trading clients in the long side was 13080 MT whereas the short position of top ten clients was 21490 MT. The net position of top 10 clients was net short by 8410 MT.
Chana stocks at NCDEX accredited warehouses stood at 892 metric tonnes (Bikaner 821, Jaipur 71) as on 28th January, similar in the previous session, the exchange data showed.
In Mumbai, Tanzania origin Chana declined by Rs 50 to Rs 4,050-4,100.
Similarly, Burma origin chana also fell by 50 at Rs 3,900/100Kg.
Ethiopia/Sudan/Russia/Burma origin kabuli chana declined each by Rs 50/100kg at the Mumbai due to dull trade activity. Liquidity crunch owing to lesser interest shown by besan flour millers and weak trend in Chana prices are weighing on Imported Kabuli Chana prices.
Spot Chana Prices In Key Indian Markets:
(By Commoditiescontrol Bureau: +91-22-40015513)