Chana Jun Futures Edge Higher On Tuesday

Chana Jun futures edge higher on Tuesday due to short covering by the market participants and taking fresh positions in the Jul contract. Government is trying to support prices by removing export restrictions and procuring at MSP. 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 and above this MSP prices. 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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