Chana Jul Futures Continue To Trade Higher



Chana Jul futures continue to trade higher supported by pickup in the physical demand and fresh buying initiated by the market participants as it hit lowest levels since Jan 2015 last week. Government is trying to support prices by removing export restrictions and procuring at MSP. Govt restricted import of yellow peas, an substitute added in the Chana flour, till June end. Earlier, govt has announced of a 7% duty credit incentive on exports. The government will procure around 200,000 t more chana from farmers in Rajasthan under the price support scheme. Recently, Maharashtra government discontinued procurement of the chana under the MSP scheme due to shortage of warehousing space and packaging bags.

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