Chana prices settled up by 1.92 percent at Rs.3609 due to strong export and domestic demand in the spot market.
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.
As per the latest monthly crop forecast by ABARE (Australian Bureau of Statistics), the Australia’s chickpeas crop is estimated to increase by over 25% to 4.85 lakh tonnes due to strong yield of around 1.79 ton/ hectare against 0.69 ton / hectares that were reported last year .
BUY NCDEX CHANA (MARCH) ABOVE 3570 SL 3540 TGT 3700
R1 3600 R2 3630 S1 3540 S2 3500.
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