Mumbai, 1 Dec (Commoditiescontrol): Chana price declined by Rs 25-50/100Kg at Delhi and Lalitpur market on thin mills participation as offtake in dal-besan was need based despite ongoing wedding season.
Also, Chana price continue to feel pressure due to Nafed selling and average quality arrivals in domestic markets.
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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