Chana futures trade with smart gains on appearance
of fresh order. Strong millers off take ahead of upcoming festival demand spur
strong gains in both spot and futures market in the last few session. The NCDEX
Chana most active November contract ended the day at Rs 4805, up Rs 169 or
3.65% from the last close.
The spot prices of Akola mix were reported at Rs
4750 per quintal and Chapa excellence were at Rs 4800 per quintal, up Rs 50
from the previous day. The total daily arrivals were balanced at the levels of
around 40,000 bags over 30000 bags in the entire major mandis.
Most of the millers of North India have witness
active buying interest in local mandies. Moreover, poor moisture content in
some parts of the chana growing states might also add speculative demand in
local mandis. According to the first advance estimates, Kharif pulses output is
estimated lower by 14.6% at 5.26 million tonnes compared with 6.16 mn tn last
year.
Chana hit one month high at Rs 4819 level and
ended the day up at Rs 4805, up Rs 169 or 3.65% from the last close. The open
interest added 3% to 71,040 tones, indicating fresh buying.chana
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