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Chana
Chana futures opened higher on account of short coverings as well as rumors that duty on imports of pulses may be imposed. Also, there are worries over acreage on the back of excessive soil moisture as well as diversification towards wheat in MP. However, prices could not sustain at higher levels, and corrected towards the end of the session. Higher arrivals in the physical markets coupled with increasing imports of dollar chana pressurized prices at higher levels. The spot as well as the futures settled 0.34% and 0.03% higher on Wednesday.
Sowing operations are going on in major states like Madhya Pradesh, Maharashtra, Andhra Pradesh and Karnataka. Comfortable domestic supplies and arrival of imported chana exerted some downside pressure on the prices. However, prices are ruling near their MSP levels and thus demand is seen emerging at lower levels.
Read More As -
Ncdex Agri Technical Report 07 November 2013
Chana futures opened higher on account of short coverings as well as rumors that duty on imports of pulses may be imposed. Also, there are worries over acreage on the back of excessive soil moisture as well as diversification towards wheat in MP. However, prices could not sustain at higher levels, and corrected towards the end of the session. Higher arrivals in the physical markets coupled with increasing imports of dollar chana pressurized prices at higher levels. The spot as well as the futures settled 0.34% and 0.03% higher on Wednesday.
Sowing operations are going on in major states like Madhya Pradesh, Maharashtra, Andhra Pradesh and Karnataka. Comfortable domestic supplies and arrival of imported chana exerted some downside pressure on the prices. However, prices are ruling near their MSP levels and thus demand is seen emerging at lower levels.
Read More As -
Ncdex Agri Technical Report 07 November 2013