Chana futures rallied over 2 percent taking cues from firmness in other pulses. The active contract December NCDEX made highest since September month and ended at Rs2630 levels. Spot prices at Delhi were trading at Rs2450 per quintal.
Outlook Most of the kharif pulses have gained by Rs100-200 per quintal in the last week due to low arrivals and lower output estimates
Tur is trading above Rs. 6000 per quintal up from Rs5500 per quintal few week ago, while, urad climber by over Rs500 to Rs5200 per quintal
Sowing of chana rabi crop is picking up well across major growing states, however, major increase in acreage is not seen due to less interest shown by farmers
Spot prices are quoting at Rs2500 at Delhi
For the day ahead, chana prices are expected to trade firm due to firm spot markets
Courtesy: JRG Wealth Management
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