Chana Aug Futures Ended Lower

Chana Aug futures ended lower for the second consecutive session due to profit booking after it surged more than 9.8% in first 10 days in July. Prices surged as government has extended the imports of dry peas for three more months which increase the physical demand from the traders and stockists. New notification says that pea import can't take place till 30 Sep 2018. It is applicable for all peas. Government has tried to keep the prices higher by removing export restrictions and procuring at MSP. According to govt officials, MP has completed procurement of 1.8 mt of rabi-harvested chana and masur. Earlier, govt has announced of a 7% duty credit incentive on exports.

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