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Chana Mixed For Second Straight Day in Spot Mkts

28 Jan 2021 8:22 pm
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Mumbai (Commodities control) – Chana prices traded mixed for second straight day, as per quality, on Thursday, in major markets.

Chana futures stayed steady over weakness in demand from spot market, but lower technical levels provided support for futures.

Chana dal and besan demand are quite lethargic to create any movement from current price levels. Due to pandemic, absence of trigger in any seasonal demand have led to current situation.

Moreover, The standing crops looks stable, backed by weather in key crop regions. It has increased the probability of higher crop output this season.

Arrivals of new chana witnessed at few markets of Maharashtra, Karnataka and Gujarat.

Nafed is also seeking to sell the Chana stocks.

Nafed has sold Rabi 2020 procured Chana at Rs 4,451-4,452/100Kg in Haryana and Rs 4,407/100Kg in Rajasthan on 27th January, 2021.

As per market sources, Nafed holding Chana stock around 13,10,421 MT as on 7th January.

Chana for March delivery on National Commodity and Derivatives Exchange (NCDEX) settled tad weak or Rs 1 down at Rs 4,482/100kg. Earlier in the day, the contract hovered in the range of Rs 4,447 and 4,500.

Open interest of top 10 trading clients in the long side was 17590 MT, whereas the short position of top ten clients was 18860 MT. The net position of top 10 clients was net short by 1270 MT.

Open interest for March contract decreased to 32,780 against 32,990 lots.

On other hand, open interest for April contract increased to 3,740 against 3,430 lots.

Chana stocks at NCDEX accredited warehouses stood at 3314 metric tonnes as on 27th January, unchanged from the previous session, the exchange data showed.

Spot Chana Prices In Key Indian Markets:

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

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