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Chana Declines At Selective Spot Markets As Govt Offloads Stock

3 Jul 2020 9:07 pm
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Mumbai (Commodities control) – Chana prices declined in a narrow range , as per quality, on Friday, in selected markets amid limited mills' buying and ongoing arrivals.

Actual demand in chana dal and besan from consumption centres was reported to be slow.

Moreover, Sentiments was dampened as NAFED's move on selling old procured Chana in selected states. However, tenders was rejected due to lower bid as per market sources. Nafed is not interested to liquidate stock below Rs 4,500/100Kg. Nafed has sold around 1410 Mt in the range of Rs 4,500-4,511/100Kg in Karnataka.

Nafed Hyderabad branch issued tender to sale of Chana (PSS RABI-2020) lying in States from 3.7.2020 through NeML and Agribazar. Telangana:47686.405 MTs & Andhra Pradesh :113735.478 MTs.

NAFED Issued Tender To Sale 89798.750 MT Chana (Rabi-2020) In Karnataka from 1.7.2020.

As per market talk, current levels of Chana prices are attractive for millers/traders due to cheaper pulses and also consumption likely to be increased in coming days as festive period starts from next month till diwali. Meanwhile, prices in spot markets traded much below MSP Rs 4,875.

As on July 1, 2020, NAFED has successfully procured 2070126.42 MT of Chana at Minimum Support Price of Rs 4,875.

Chana for July delivery on National Commodity and Derivatives Exchange (NCDEX) settled 1.2 percent or Rs 49 lower at Rs 4,132/100kg. Earlier in the day, the contract hovered in the range of Rs 4,115 and 4,190.

Open interest of top 10 trading clients in the long side was 40290 MT, whereas the short position of top ten clients was 49160 MT. The net position of top 10 clients was net short by 8870 MT.

Open interest for NCDEX July contract decreased to 29870 lots against 31730 lots.

On other hand, Open interest for August contract increased to 51490 lots against 48700 lots.

Similarly, Open interest for September contract also up to 5680 lots against 3810 lots.

Chana stocks at NCDEX accredited warehouses stood at 61454 metric tonnes as on 2nd July, up from 61029 metric tonnes in the previous session, the exchange data showed.

pot Chana Prices In Key Indian Markets:

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

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