Chana prices closed lower by 0.04 % on Monday

Chana prices closed lower by 0.04 per cent on Monday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the steady sowing progress of pulses along with high supplies in major manufactureing states. In the NCDEX, chana futures for August 2015 contract closed at Rs. 4,581 per quintal, down by 0.04 per cent, after opening at Rs. 4,592 against the previous closing price of Rs. 4,583. It touched the intra-day low of Rs. 4,568.India is the largest producer of chickpea followed by Turkey 'Pakistan and Iran. India produces around 6 to 8 million tonnes and contributes around 70 per cent of the total world production. To control the domestic prices, centre asked state governments to take stringent action against hoarders and boost supply in "vulnerable areas" prone to shortages. Meanwhile, all the warehouses registered with Warehouse Development and Regulatory Authority (WDRA) exempted from the stock limits. There is sufficient stock available in the country due to record imports as there was nil import duty on chana since December.

Outlook

Chana price may trade sideways to higher on good demand from traders and stockists. There are reports of higher imports and higher prices in overseas market amid lower production projections in Canada and Australia are positive for the prices. Meanwhile, revival of monsoon in most parts of the western and central India and relaxation of hoarding limits for WDRA registered warehouses is mixed for the chana prices.

Read More - MCX Chana Tips

To control the domestic prices, centre asked state governments to take stringent action against hoarders and boost supply in "vulnerable areas" prone to shortages. Meanwhile, all the warehouses registered with Warehouse Development and Regulatory Authority (WDRA) exempted from the stock limits. There is sufficient stock available in the country due to record imports as there was nil import duty on chana since December.

Read more at: http://www.moneycontrol.com/news/brokerage-recos-commodities/expect-chana-to-trade-sideways-to-positive-angel_2107741.html?utm_source=ref_article

To control the domestic prices, centre asked state governments to take stringent action against hoarders and boost supply in "vulnerable areas" prone to shortages. Meanwhile, all the warehouses registered with Warehouse Development and Regulatory Authority (WDRA) exempted from the stock limits. There is sufficient stock available in the country due to record imports as there was nil import duty on chana since December.

Read more at: http://www.moneycontrol.com/news/brokerage-recos-commodities/expect-chana-to-trade-sideways-to-positive-angel_2107741.html?utm_source=ref_article

To control the domestic prices, centre asked state governments to take stringent action against hoarders and boost supply in "vulnerable areas" prone to shortages. Meanwhile, all the warehouses registered with Warehouse Development and Regulatory Authority (WDRA) exempted from the stock limits. There is sufficient stock available in the country due to record imports as there was nil import duty on chana since December.

Read more at: http://www.moneycontrol.com/news/brokerage-recos-commodities/expect-chana-to-trade-sideways-to-positive-angel_2107741.html?utm_source=ref_article

To control the domestic prices, centre asked state governments to take stringent action against hoarders and boost supply in "vulnerable areas" prone to shortages. Meanwhile, all the warehouses registered with Warehouse Development and Regulatory Authority (WDRA) exempted from the stock limits. There is sufficient stock available in the country due to record imports as there was nil import duty on chana since December.

Read more at: http://www.moneycontrol.com/news/brokerage-recos-commodities/expect-chana-to-trade-sideways-to-positive-angel_2107741.html?utm_source=ref_article