Chana in bear grip

Our Correspondent Indore | Updated on October 13, 2020 Published on October 13, 2020

Weak demand and bearish futures pounded chana prices in the spot market. Chana (kanta) at the mandis in Indore declined to ₹5,300 a quintal. Chana (desi) ruled at ₹ 4,200-4,225, while chana (mausmi) was quoted at ₹ 4,200-4,300 a quintal.

Compared to last week, chana in Indore mandis has declined by ₹300 a quintal.

According to Prakash Vora, a local chana trader, irrespective of actual demand and supply status, speculators are in complete control of chana prices. As a result,the real buyers are shying away from the market, he added. Decline in chana also dragged its dal with chana dal (average) today being quoted at ₹ 6,700-6,800, chana dal (medium) at ₹ 6,900-7,000, while chana dal (bold) was quoted at ₹7,100-7,200 a quintal.

Dollar chana also quoted lower at ₹ 5,500-6,500 a quintal on weak domestic and export demand. In containers, dollar chana quoted lower with the 42/44 count at ₹7,300, 44/46 count at ₹ 7,100, while dollar chana (58/60 count) was quoted at ₹ 6,900 a quintal, respectively. The arrival of dollar chana in Indore mandis today was recorded at 5,000 bags against 25,000 bags in mandis across Madhya Pradesh.

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Published on October 13, 2020
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