Agri Business

Arrivals likely to keep chana steady

Our Correspondent Indore | Updated on February 10, 2011

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On Wednesday, chana in the spot gained marginally with prices being quoted at Rs 2,550-2,560 a quintal, notwithstanding a rise in chana futures on the NCEDX whose February contract closed Rs 26 higher at Rs 2,670 a quintal. Chana prices for the past few days have been experiencing marginal gains and falls and its prices are mainly influenced by availability and demand for pulses in the physical market.

As demand for pulses in the mandis continue to remain sluggish with traders remaining busy in marriage celebrations, chana prices in the spot have been witnessing a marginal rise and fall for the past few days. According to market sources, speculators are trying their best to pull chana prices in the spot up to Rs 3,000 a quintal but it seems unlikely once arrival of new chana both in the NCEDX and on the spot will gather momentum in the second half of February. If the arrival of new chana will outpace the accommodation in the NCEDX, chana prices will decline, said a trader, Mr Sanjay Bansal.

Meanwhile, local mandis on Wednesday witnessed arrival of 50 bags of new chana from Neemuch and Mandsaur regions of Madhya Pradesh.

Bearish sentiments in chana also dragged chana dal prices in the spot by Rs 25 with prices of chana dal (bold) quoted at Rs 3,225 a quintal, chana dal (average) at Rs 3,125 a quintal and chana dal (average) quoted at Rs 3,050 a quintal.

Among other pulse seeds, urad declined by Rs 100 at Rs 4,300 a quintal, while other pulse seeds remained steady with moong quoted at Rs 4,800-Rs 5,000 a quintal, tur at Rs 4,175 a quintal, masoor quoted at Rs 3,250 a quintal and urad at Rs 4,200 a quintal.

On the other hand, dollar chana edged higher in the container with depleting arrival. In the container dollar chana 42-44 count quoted at Rs 5,600-Rs 5,650 a quintal, Rs 100 up, while in the mandis it ruled firm at Rs 5,100-Rs 5,200 a quintal. Local mandis witnessed arrival of about 700 bags of chickpea.

Published on February 09, 2011

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