Chana Jul Futures Closed Lower Last Week



Chana Jul futures closed lower last week pressured by steady demand and higher stocks with traders and stockists. Chana is trading under pressure on higher availability of Chana in physical market as states ends procurement at MSP. 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 rabiharvested chana and masur. Earlier, govt has announced of a 7% duty credit incentive on exports. Recently, Maharashtra govt discontinued procurement of the chana under the MSP scheme due to shortage of warehousing space and packaging bags.

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