Mumbai, 28 Nov (Commoditiescontrol): Chana price trade higher by Rs 25-75/100Kg at select market, such as Delhi, Indore, Jaipur, Akola, Raipur and Kanpur on improved mills participation as offtake in dal-besan was witnessed due to ongoing marraige occasion. Moreover, lack of good quality arrivals was reported.
Similarly, Tanzania Chana quoted firm by Rs 50 at Rs 4,400-4,600/100Kg at Mumbai on improved millers buying activity, following firm cues from domestic market.
Chana trades higher by Rs 50 at Rs 4,850-4,900/100Kg in bilty at Akola on mills buying.
At Hinghanghat, Chana rise by Rs 50 at Rs 4,000-4,775 on millers buying as action in Chana dal witness good due to ongoing marraige season. 400 bag arrival of Chana seen today.
Chana price can find further support for short term period due to less availability of good quality Chana, expectation of lower sowing acreage this year, slow selling by Nafed in Maharashtra and higher bid price to purchase Nafed Chana tender in Rajasthan. Hopes of Government approving trading in futures market could help in bulding optimism. But, overall, Chana prices are unlikely to sustain at higher rates as farmers, the stockiest and the government hold adequate stock. Regular selling by government to create sufficient storage capacity before the start of the next Rabi season and stockiest-trader at every rise will restrict up move in price.
Spot Chana Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-22-40015513)
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