Chana Ends Higher On Restricted Supply


Chana prices closed higher 3.99 per cent on Monday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the traders enlarged their holdings in the commodity on account of the good demand in the market. 

At the NCDEX, chana futures for April 2016 contract closed at Rs. 5,315 per quintal, up by 3.99 per cent, after opening at Rs. 5,264 against the previous closing price of Rs. 5,111. It touched the intra-day high of Rs. 5,315. Moreover, the restricted arrivals of the commodity in the physical market due to lower estimated output also influenced the chana prices.

Commodity markets were closed on April 19, 2016 on account of Mahavir Jayanti. India is the largest producer of chickpea followed by Pakistan, Turkey and Iran. India produces around 6 to 8 million tonnes and contributes around 70 per cent of the total world production.

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