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Chana mixed in spot mkts on limited mills buying activity

23 Sep 2021 8:06 pm
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Mumbai, 23 Sep (Commoditiescontrol) – Chana prices traded mixed, as per quality, on Thursday, in selected markets amid thin buying from mills as Chana dal and besan demand remains thin.

NCDEX Chana for October delivery on National Commodity and Derivatives Exchange (NCDEX), settled 0.6 percent or Rs 30 higher at Rs 5,260/100kg. Earlier, in the day, the contract hovered in the range of Rs 5,210 and 5,275.

FCI rejected all bids of Rabi 2021 and 2020 procured Chana auctioned in Maharashtra, as per market sources.

Nafed sold procured Chana Rabi-2020 at Rs 5,101-5,134/100Kg and Rabi-2019 at Rs 4,905/100Kg in Madhya Pradesh on 22nd Sep, 2021.

Open interest of top 10 trading clients in the long side was 8,270 MT, whereas the short position of top ten clients was 2,700 MT. The net position of top 10 clients was net long by 5,570 MT.

Open interest for October contract decreased to 15,000 against 15,310 lots.

Chana stocks at NCDEX accredited warehouses stood at 48,072 metric tonnes as on 22nd August, down from 48,484 metric tonnes in the previous session, the exchange data showed.

Chana prices may remain under pressure due to liquidation of old stock by stockiest and big farmers as they intend to shift their position to soybeans which may give better return in near term. But down side from here is limited as we may see pick-up in demand after pitru paksha which end on 6th October. Seed demand for Rabi sowing will also support Chana prices.

Spot Chana Prices In Key Indian Markets:

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

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