MUMBAI (Commodity Online): Chana futures gained Wednesday on extended buying by the traders on the back lower sowing in the producing regions.
In NCDEX chana February contract closed at Rs.3233 per quintal, higher by 1.50 per cent against the previous close.
In the morning session the contract traded at a range of Rs.3187-3265 per quintal. Open interest of the contract stood at 105630 lots and volume traded is 85250 lots for the time being.
Sowing of Pulses in India as on 27th Jan, 2011 has been covered over 145.86 lakh hectares 0.6% lower as compared to 146.76 lakh hectares in the same period previous year. Chana area till January 27, 2012 was lower by 4.11% and stood at 89.57 lakh hectares as compared to 93.41 lakh hectares in the same period previous year.
According to the Rajasthan farm department’s first advance estimates for Rabi crops, Chana output is estimated 7.8% lower at 14.75 lakh tonnes in 2011-12 seasons against 16 lakh tonnes in 2010-11.
