NCDEX chana up as govt restricts peas imports

Futures contracts of chana erased earlier losses and rose slightly on NCDEX as the government restricted import of peas. September contract chana on NCDEX was up 9 rupees at 3,900 rupees per 100 kg. Peas are largely used as substitute for chana. The chana contract had hit a seven-week low of 3,754 rupees. The government had lifted the 100,000-tn import cap on peas that was in place till Sep 30, following the order of Madras High Court. Chana prices in Delhi were up 50 rupees at 4,225 rupees per 100 kg, Vikas Gupta, local pulses trader said adding that if NAFED sells chana below 4,000 rupees it will create selling pressure.