Chana Jul Futures Continue Its Uptrend

Chana Jul futures continue its uptrend on Monday and surged more than 10% in July, 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. 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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