Selling intensified in chana futures today due to fresh arrivals of new chana from major producing states along with weak trend in international imported pulses. The NCDEX futures pared almost Rs 24 per quintal today.
Market sources suggested that new supplies of chana have been arrived in the major producing mandies of Maharashtra and Karnataka. The total arrivals of around 60-70 thousand tonnes of new chana reported in these states . While the spot prices of chana wilted almost Rs 30 per quintal to trade at around Rs 3600-3850 per quintal in major mandies.
Similarly, the spot prices of Australian chana also plunged by almost Rs 25 per quintal to trade around Rs 3730 per quintal , while other international imported pulses also slumped by almost 1% today.
The NCDEX Chana futures for April expiry decreased by Rs 24 per quintal to close at Rs 3600 per quintal. The NCDEX contract pared almost 1000 positions in open interest indicating long liquidation by traders.
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