Chana May Futures Continue

Chana May futures continue its uptrend and close higher on Thursday on anticipation of good physical demand at lower prices. Chana may still get support on reports that government restricted import of yellow peas, an substitute added in the Chana flour till June end. Center is trying to support farmers by buying at MSP. 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 export of desi chana.

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