Agri Tips & News : Chana Prices Rose While Soya Oil remains Down

Agri Tips

CHANA

Today Chana prices rose by 2% to Rs 4,282 perquintal in futures trade amid improvement in demand at the spot market & inadequate arrivals from producing zone. At the National Commodity and Derivatives Exchange, chana for delivery in July shot up by Rs 84, or 2 per cent to Rs 4,282 per quintal with an open interest of 28,360 lots. Similarly, the commodity for delivery in August contracts traded higher by Rs 58, or 1.33 per cent to Rs 4,404 per quintal in 1,88,990 lots. Futures Trade Market analysts said pickup in demand at the spot market against inadequate supplies from producing zones led to the upsurge in chana prices.

SOYOIL

According to market experts report Refined soya oil prices were down by 0.42% to Rs 581.45 per 10 kg in futures trade today as traders decreased positions, driven by slow-moving demand in spot markets. In addition to this, adequate stocks position in the physical market on high-rise in supplies from manufacturing belts put pressure on refined soya oil prices. At National Commodity & Derivatives Exchange, refined soya oil is to be delivered in August month traded lower by Rs 2.45, or 0.42% to Rs 581.45 per 10 kg with an open interest of 2,14,710 lots. On similar lines, the oil for delivery in October contracts shed Rs 2.05, or 0.36 % to Rs 567.50 per 10 kg in 75,535 lots. Futures Trade Market analysts said offloading of positions by traders beacuse of lesser requirement in the spot market mostly considered on refined soya oil prices.

Click Here For More - Agri Tips