MUMBAI (Commodity Online): Chana futures gained Monday on fresh demand in the domestic markets amid lower output concerns in 2012.
In NCDEX chana February contract is trading at Rs.3325 per quintal, up by 1.65 per cent on 12:30 IST against the previous close.
In the morning session the contract traded at a range of Rs.3267-3332 per quintal. Open interest of the contract is 95970 lots and volume traded is 41280 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.
