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Chana trades lower in Delhi on thin mill purchase

18 Sep 2021 12:21 pm
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Mumbai, 18 September (Commoditiescontrol) – Rajasthan and Madhya Pradesh-origin Chana traded weak at Lawrence road market of Delhi, on Saturday amid thin mills buying.

Moreover, Chana dal and besan demand scenario remains quiet.

30 truckloads of supply arrived in the markets, up from 25 truckloads in the previous session.

Meanwhile, Nafed is actively liquidating its stocks of chana at various centres. FCI is also active in selling stock procured in Maharashtra.

Nafed sold procured Chana Rabi-2019 at Rs 5,011/100Kg and Rabi-2020 at Rs 5,201-5,215 in Madhya Pradesh on 16th Sep, 2021. In Rajasthan, Rabi-2020 sold at Rs 5,250-5,267. In Andhra Pradesh, Rabi-2020 sold at Rs 5,100.

Rajasthan and M.P-origin chana traded lower by Rs 50 each, at Rs 5,450/100kg and Rs 5,350, respectively.

In spite of lower production and ban on import of yellow peas, Chana prices have failed to move up as per expectation because of repeated government intervention and liquidity crunch in the market due to lockdowns but with the arrival of new Kharif crop, there will be the fresh infusion of funds in rural market which in turn may revive the demand during the ongoing festive season. Forward transaction in imported Chana is also indicating higher prices in the near term. But if there is a third-wave of Covid and any sort of government intervention then rally may fail to materialize but at the same time down side is limited from current prices.

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

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