Steady to slightly weak sentiments prevailed in the major mandis amidst better arrivals and reduced offtakes. Chana futures traded in sideways to up manner in the beginning of the session but shredded earlier gains of the day and ended the day negatively on Tuesday.

Demand from the local stockists has reduced due to expectation that the prices may further ease off. Fresh arrivals from Rajasthan are expected in the coming days.

Domestic rabi pulses area as on March 04, 2010 is reported up at 144.35 lakh hectares (lh) compared to 136.99 lh during the same period last year. Area under gram reported up at 89.21 lh Vs 83.44 lh. Area under lentils reported up at 15.23 lh compared to 14.66 lh.

In NCDEX-accredited warehouses stock of Chana stood at 26144 MT as on 15th March,2010. Spread between March and April contract is at Rs. 80.

Courtesy: Angel Commodities

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