MUMBAI (Commodity Online): Chana futures gained Tuesday on hopes of rising North Indian demand for Holi festival amid lower output concerns due to adversed weather concerns.
In NCDEX chana March contract is trading at Rs.3408 per quintal, higher by 1.33 per cent on 15:20 IST against the previous close.
In the morning session the contract traded at a range of Rs.3360-3432 per quintal. Open interest of the contract is 69910 lots and volume traded is 96950 lots for the time being.
According to Second Advance estimates Pulses output is expected to fall by 5.26% to 17.29 mln tonnes as compared to 18.24 mln tonnes in 2010-11. Chana production is expected to decline by 6.8% to 7.66 mln tonnes as compared to 8.22 million tonnes in the last 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.
