Chana Futures Closed Higher On Anticipation Of Supply Crunch In Near Future

Chana futures at NCDEX closed higher on anticipation of supply crunch in near future. Chana Jan’16 futures closed higher by 1.27 per cent at Rs. 4,796 per quintal. However, spot prices were down on anticipation of good supplies in the market from the seized pulses. As per data release by Agriculture Ministry, pulses planted on 114.51 lakh hac, lower by 0.7 per cent compared to last year acreage as on Dec 11. The acreage under chana reported higher in Maharashtra (11.58 lh Vs 8.5 lh) and Andhra Pradesh (3.32 lh Vs 2.67 lh) compared to last year’s acreage but lower in Rajasthan (11.76 lh Vs 14.48 lh) 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. Since imposition of the stockholding limits on pulses by the states, 1.33 lt were seized until November 30. Over 20,000 tonnes of pulses have been offloaded in the market so far as part of the government's steps to boost domestic availability and control prices.

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