Chana prices in the key markets were down

Chana prices in the key markets were down because of liquidation by the NAFED and other nodal agencies. In the last two days it is likely to have liquidated 50,000 ton across the country. Sales of chana have been largely confirmed in the range of 4,400-4,500 rupees and above rates.

However, there is limited availability with retail buyers and stockists. This may restrict sharp fall. Most of the inventories are with the government procurement agencies. Chana in Delhi was selling in the range of 4,470-4,480 rupees per 100 kg down 25-30 rupees from previous close.

Overall, market participants are eyeing pattern of government sales going ahead amid revival in festive demand. If NAFED confirms higher quantity of chana in the coming days prices may again correct and find support at 4,200-4,250 rupees.