Chana Prices Range-Bound

Mumbai: Chana prices remained range-bound in spot as well as futures market towards the end of the festive season pressured by mounting arrivals as well imports.

Demand from millers and crushers was subdued, said a trader. Arrivals at Bikaner were around 150 bags. Crop sowing in Karnataka, Andhra Pradesh and Maharashtra was in progress and arrivals from imports had also been entering in the market, he said.

Arrivals were pressurising prices. Spot prices of chana were quoted marginally lower at Rs 2,323.75/quintal.

Chana prices are likely to trade sideways as the government has been importing alternative peas through local PSUs, according to analyst. On the demand front, there might be an increase from millers and stockist that was likely to support prices, he added.

Turnover

Turnover on MCX at 5.00 pm was Rs 4,971.24 crore. Total number of trades was 74,812.

MCX Comdex - the composite index of metals, energy and agri sub-indices - receded by 0.89 per cent at 2390.70 points, MCX Metal Index by 1.33 per cent at 2623.15 points and MCX Energy Index by 0.55 per cent at 2786.95 points and MCX Agri- Index by 0.64 per cent at 1611.42 points.