Chana Ends Lower On Increased Stocks

Chana prices closed lower by 0.23 per cent on Wednesday at the National Commodity & Derivatives Exchange Limited as a result of the steady sowing progress of pulses along with high supplies in major producing states. At the NCDEX, chana futures for May 2016 contract closed at Rs. 5,949 per quintal, down by 0.23 per cent, after opening at Rs. 6,041 against the previous closing price of Rs. 5,963. It touched the intra-day low of Rs. 5,936.

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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