Saturday buying continued in chana futures on the back of strong millers offtake along with sharp gains in local mandies. The NCDEX futures swelled by almost Rs 132 per quintal today
Strapping millers offtake ahead of festival demand spurred strong gains in both spot and futures market. Most of the millers of North India have witnessed active buying interest in local mandies. Moreover, poor moisture content in some parts of the chana growing states also added speculative demand in local mandies.
The spot prices of chana such as Akola and Latur variety increased by almost Rs 75-100 per quintal today from the previous day to trade at around Rs 4500-4650 per quintal with the total arrivals of 35 thousand bags.
The NCDEX November Chana contract increased by almost Rs 132 per quintal to settle at Rs 4530 per quintal in today's trading. The contract pared 800 positions in open interest indicating short covering by speculators and traders.
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