Steady to slightly weak sentiments prevailed in the major mandis amidst better arrivals and reduced offtakes. Chana futures traded in sideways to down manner since the beginning of the session tracking lacklustre trades and ended the day negatively on Wednesday.

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.

According to the government’s press release rabi Chana crop’s cropped area this year and last year as on 11th March is equal to 89.22 lakh ha and 83.51 lakh ha respectively.

In NCDEX-accredited warehouses stock of Chana stood at 26144 MT as on 16th March,2010. Spread between March and April contract is at Rs. 80.

Courtesy: Angel Commodities

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