Speculators push up chana by Rs 100/quintal

Our Correspondent Indore | Updated on July 20, 2011


Speculation in the physical market and rising futures lifted chana by Rs 100 to Rs 2,825-2,850 a quintal on Wednesday.

Trading perked up chana on the National Commodity and Derivatives Exchange, where it sold at Rs 2875-2,900 a quintal, even as millers refrained from buying at the higher rate. Spot chana ( desi) fetched Rs 2,800-2,825 a quintal.

Traders said big stockists push up chana prices reckoning on demand from big companies and multinationals. Currently, only stocks are being traded, though 1,500-2,000 bags arrive daily.

Bullish spot chana also boosted chana dal. Chana dal (bold) sold at Rs 3,600-3,625, against Rs 3,525-3,550 a quintal on Tuesday. Similarly, chana dal (medium) fetched Rs 3,475-3,500, against Rs 3,425-3,450 on Tuesday, and chana dal (average) sold at Rs 3,375-3,400 a quintal.

Spot dollar chana or chickpea continued to riseTuesday, fetching Rs 100 more at Rs 6,500-6,800 a quintal. Eight hundred bags of dollar chana arrived.

Improved demand lifted masoor a little. Masoor (bold) was Rs 25 up at Rs 2,775-2,800 a quintal and masoor (medium) sold at Rs 2,450-2,500. Demand for masoor perked up masoor dal as well, with masoor dal (bold) fetching Rs 25 more at Rs 3,400-3,425, masoor dal (medium) fetching Rs 3,300-3,325 and masoor dal (average) selling at Rs 3,175-3,200 a quintal.

Tur, moong and urad remained steady. Tur (Maharashtra) remained unchanged at Rs 3,000 and tur (Nimari) at Rs 2,500 a quintal. Moong (bold) ruled at Rs 4000-4,200 and moong (medium) at Rs 3,500-3,800 a quintal . Urad (bold) ruled firm at Rs 3,800-4,000 and urad (medium) at Rs 3,300-3,500 a quintal.

Published on July 20, 2011

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