Chana Futures At NCDEX Traded Closed Lower

Chana futures at NCDEX traded closed lower yesterday due to expectation of more hoarding expected by market participants as the income tax department raided traders dealing in pulses, especially chana (chickpea), in Delhi and Mumbai on Tuesday. Chana Jan’16 futures closed lower by 0.46 per cent at Rs. 4,717 per quintal. The rates of chana futures touched the lower circuit on the NCDEX.

As per data release by Agriculture Ministry, chana planted on 79.17 lakh hac, higher by 4 per cent compared to last year acreage of 75.82 as on Dec 18. The acreage under chana reported higher in Maharashtra (12.72 lh Vs 9.6 lh), Andhra Pradesh (3.32 lh Vs 2.67 lh) and Karnataka compared to last year’s acreage but slightly lower in Rajasthan (12.35 lh Vs 12.56 lh) and Madhya Pradesh as per data released by respective state agriculture department. India has imported 3.07 lakh tonnes (lt) of Chana until September in the current financial year.

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