Chana Settled Up By 0.29% At 4920

Chana settled up by 0.29% at 4920 supported by the rising spot market demand and restricted arrivals from producing belts. However, gains were capped as the government is keeping a close watch and taking every necessary step to curb prices including offloading hoarding of pulses stocks. Meanwhile, India's pulses import during first half of this fiscal rose 14.2% to 22.5 million ton due to fall in domestic output caused by poor monsoon for the second successive years. During Apr-Sep 2014, India imported 1.97 million ton pulses, government data showed. Also, India's gram sowing stood at 7.51 million hectare as compared to 7.29 million hectare same period a year ago.

Moreover, Minister of Consumer Affairs, Food and Public Distribution, Ram Vilas Paswan informed in a written reply in Lok Sabha that the Government has approved creation of a buffer stock through procurement of about 50,000 ton pulses from the kharif crop 2015-16 and 100,000 ton out of arrivals of rabi crop of 2015-16. 

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