Chana On NCDEX Settled Up

Chana on NCDEX settled up by 1.56% at 6584 on the back of lower supply and firm demand in the spot market. This apart, the government decision to hike the minimum support price for kharif pulses has led to expectations that chana, a rabi crop, would receive the same benefits. Import price of chana has also been rising steadily with the landed cost hitting Rs. 57 a kg against Rs. 50 in May. The demand for chana has remained strong over the last few days with Ramzan starting followed by Hindu festivals, he added. Most importers have cut shipments on fear of the Centre imposing stock limits to bring down prices.

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