Chana Jun Future Closed Little Higher On Thursday

Chana Jun future closed little higher on Thursday on short covering after it traded negative in two previous sessions. The trend is still positive due to improved physical demand at current prices. Recently, government restricted import of yellow peas, an substitute added in the Chana flour till June end to support Chana prices in domestic market. Madhya Pradesh and Chhattisgarh government announce bonus for Chana procurement over an above this MSP prices. Government is trying to support prices by removing export restrictions and procuring at MSP. MP govt announces to procure about 21 lt of Chana at MSP of 4,400 /quintal and exclude it from Bhavantar scheme. Earlier, govt has announced of a 7% duty credit incentive on exports.

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