Imported Chana:
Australia chana in ready delivery pared early gains and quoted firm by Rs.150/100Kgs on fresh millers buying support in Delhi at low rates despite consistent supply from overseas and arrivals of new chana in domestic markets. Traders having stock of imported chana are driving chana to exit at higher rate as pressure of overseas supply was mounting.
Similarly, Australia chana from Vessel Clipper Iwagi and Ermoine both surged Rs.150 quoted at Rs.6,600/100Kgs respectively following ready delivery prices.
Commodity in forward business for December shipment quoted at Rs.6,300/100Kgs, gained Rs.100. Commodity also remained firm for January shipment at Rs.5,600/100Kgs, up by Rs.100.
Arrivals pressure of new chana is expected to gain momentum between February-end or by March-mid.
Chana may not sustain the higher levels as supply in small quantity had already started in Karnataka, Maharashtra and Gujarat. Demand of chana dal and besan had shifted to matar dal and besan due to their cheaper prices. Further, rabi sowing had improved last week compared to similar period of last year.
In Delhi, rates for Australia origin chana were quoted firm by Rs.100 at Rs.7,000/100Kgs due to good buying from mills.
