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Commodity News
Feb 7 2008 10:16AM
Desi chana bullish at Delhi market

New Delhi - Bullish movement continued in desi chana at the benchmark spot Lawrence Road market in Delhi here Thursday.

Desi chana arrived from Rajasthan was called to open at Rs 2,480 to Rs 2,485, up Rs 20 per quintal amidst better buying enquiries from local millers coupled with positive cues from National Commodity and Derivative Exchange (NCDEX).

Madhya Pradesh line chana exchanged Rs. 20 higher to Rs 2,425 to Rs 2,485 per quintal. No quotes were offered for Maharashtra due to negligible supply.

A sharp gain of Rs 100 per quintal witnessed in chana dal counter, where wagon and sortex variety was traded at Rs 2,600 and Rs 2,800 per quintal respectively.

Surprisingly the supply increased to 65 to 70 trucks as against regular arrival of 30 to 35 trucks at the Lawrence road, indicating that there is enough stock left in the country and stockiests are selling at the current higher prices.

A Jaipur-based trader Kamal Agrawal said 10-15% of crop may be damaged since crop is in podding stage. In Madhya Pradesh, however, the damage is not much as the crop is almost ready for harvesting and at some places harvesting has also started. Arrivals of new crop have started from Maharashtra and Karnataka but there has been delay in old crop arrivals from Rajasthan and MP to Delhi.

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