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Feb 6 2007 10:49AM
Desi chana sheds Rs. 50 at Delhi, futures recover
New Delhi, Feb 06 - Spot desi chana has been held hostage by the bears across lead domestic markets.Prices have been on a regular decline and more to the worry of the market, it has been significantly steep. At benchmark market Delhi, desi chana registered fresh decline of Rs. 50 on poor offtake in early hour trade Tuesday. Lawrence Road Mandi here witnessed desi chana fall further as buyers kept themselves off trading in the middle ofincreased suppliesand poor offtake in chana dal. MP-line desi chana was offeredRs. 50 lower atRs. 2,200 per quintal, whilethe Maharashtra-line fell by an identical margin to get offered at Rs. 2,300 per quintal.In the processed segment, average and sortex variety dalsplunged by Rs. 100 to Rs. 2,700 and Rs. 2,800 per quintal respectively.Fresh supply of only 50 trucks reached market place.There were, however, some comforting news from the forward trade. Desi chana futures on National Commodity and Derivatives Exchange [NCDEX] recovered from previous loses on short-covering.Most active February contract tradedat Rs. 2,265,up Rs. 33 against the previous close of Rs. 2,231 per quintal.March contract resumed trade at Rs. 2,064 andfluctuatedinrange of Rs. 2,064 to Rs. 2,089 per quintal, beforegaining Rs. 15 atRs. 2,073 per quintal.Other contracts also witnessedfresh gains inrange of Rs. 14-19 per quintal.
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