MUMBAI (Commodity Online): Sideways trend was noted for chana as Govt meetings on price rise created apprehensions of some steps that may be taken to check price of Pulses in the markets. Some improved demand at these low rates provided some support to the prices. Arrivals were moderate in Lawrence Road mandi.
Trade sitting at the comfort of home. Start with a mere 50$Arrivals kept weak as traders feel that rates have fallen significantly over the last few months and they expect demand to rise from these low levels. Prospects of good production have been limiting the uptrend.
Chana however is prices far lower than other Pulses like Urad and Tur. Firmness in these Pulses can provide some support to the price for Chana.
An overall higher production expectation for chana and higher stock levels can have some bearish impact on the rates.
Courtesy: Religare Commodities
