MUMBAI (Commodity Online): Chana futures fell Saturday on profit booking by the traders on the back of subdued demand in the domestic markets.
In NCDEX chana February contract is trading at Rs.3286 per quintal, down by 0.42 per cent on 12:55 IST against the previous close.
In the morning session the contract traded at a range of Rs.3272-3301 per quintal. Open interest of the contract is 99510 lots and volume traded is 22670 lots for the time being.
Although seasonality pattern is seen pressurizing prices at higher levels, fresh demand amidst negligible carry over stocks of last year restricted sharp downside.
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.
