Chana may rise on purchases to build stocks

Our Correspondent
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Weak arrival, rise in futures and strong buying support lifted chana prices in Indore mandis on Tuesday by Rs 100 a quintal to Rs 3,450.

Similarly, chana (desi) also rose to Rs 3,200. Among the other varieties, chana (Mausmi) ruled at Rs 3,300-3,500, chana (vishal) at Rs 3,000-3,200, chana (annagiri) at Rs 3,200, Kabuli Bitki at Rs 3,200-3,300, while chana (kaak 2) ruled at Rs 3,300-3,400 .

Notwithstanding bumper crop output this year, chana may see a further gain of Rs 100-200 a quintal in the coming days with stockists building inventories, said a trader Sanjay Agrawal.

Chana dal also gained Rs 75 on rise in spot chana prices in local mandis with chana dal (average) being quoted at Rs 4,050-75, chana dal (medium) at Rs 4,150-75, while chana dal (bold) rose to Rs 4,300-25 a quintal. Sluggish trend also in dollar chana also ended on improved buying support.

On Tuesday, dollar chana gained Rs 150-200 with its prices being quoted at Rs 4,500-5,200 a quintal amid an arrival of 25,000-28,000 bags in Madhya Pradesh.

Uptrend was witnessed in dollar chana in the container on improved export demand. On Tuesday, dollar chana (42/44 count) ruled at Rs 6,500, 44/46 count at Rs 6,250, 46/48 count at Rs 6,050, while dollar chana (58/60 count) ruled at Rs 4,100 and 60/62 count at Rs 4,000 a quintal.

Arrival of dollar chana in Indore was recorded at 7,000-8,000 bags, Dewas 3,000-3,500, Ujjain 2,000-2,500 bags, while Dhar recorded an arrival of 2,000-2,200 bags and Ratlam 1,500-1,800 bags.

(This article was published on April 2, 2013)
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