MUMBAI (Commodity Online): Chana gained Thursday as traders created fresh positions on the back of lower output concerns amid limited stocks in the spot markets. Firm demand in the domestic markets also supported the uptrend.
In NCDEX chana March contract is trading at Rs.3650 per quintal, higher by 1.15 per cent on 16:00 IST against the previous close.
In the morning session the contract traded at a range of Rs.3610-3680 per quintal. Open interest of the contract is 68340 lots and volume traded is 144640 lots for the time being.
Arrivals from some parts of M.P. have commenced but they are in small quantity. This is also providing support to the prices.
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.
