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Our Bureau

Mumbai, Nov 26 Chana prices on NCDEX closed lower as demand from millers and crushers was subdued. Also, arrivals had increased from imports. Spot prices of chana were quoted lower by Rs 65 at Rs 2,300/quintal.

Pressure on prices led due to daily arrivals in the Delhi market – at an average 50-60 motor during the week, at Bikaner stood around 300-350 bags, while arrivals at Indore stood around 1,500-2,000MT during the week, according to India Infoline.

Also the Government announcement of arrival of 7.21 lakh tonnes of pulses at Indian ports including 2,900 tonnes of chickpea and 5,09,716 tonnes of yellow peas, have put pressure on prices as they are cheaper alternatives to chana, according to the analyst.

MMTC has invited bids to sell 10,000 tonnes of chickpea, out of which 8,000 tonnes would arrive this month and rest 2000 tonnes will be shipped next month, an analyst said.

PEC also invited bids to sell 1,000 tonnes of chickpea of Tanzanian origin.

Stock position as NCDEX accredited warehouse stood at 3,310 tonnes as on November 23. Chana prices are likely to trade on the lower side, good supply and poor demand, said the analyst.

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