Rising demand lifts chana futures by 2%.

Chana prices went up by 2 per cent to Rs 4,641 per quintal in futures trade, driven by rising demand at the spot market. At the National Commodity and Derivatives Exchange, Chana for November moved up […]

Chana futures gain 0.96% on strong demand.

Chana prices went up by 0.96 per cent to Rs 4,212 per quintal in futures trade, as participants enlarged their positions, tracking a firm trend at the spot market on surging demand. Expanding of positions by traders on the back of strong demand in view of ongoing festive season and increased offtake by dal mills in the physical market mainly attributed the rise in chana prices at futures trade.

Rise in chana contract lifts NCDEX Dhaanya index.

The NCDEX Dhaanya index rose 9.82 points to 3205.08 points, largely due to gains in chana and castor seed contracts. A fall in guar seed contracts restricted the rise in index. Dhaanya is a value-weighted index, computed real-time using the near-month prices of 10 most liquid commodity futures. The components of the index and their weights are re-balanced every quarter. Currently, chana and guar seed carry a weight of 20% each, soybean 16%, and mustard seed 15%, and cottonseed oilcake 8%. Castor seed, coriander, barley, jeera, and turmeric are the other components of the index.

NCDEX to launch options in guargum, three other agro products in two weeks.

Agro-centric National Commodity & Derivatives Exchange (NCDEX) plans to launch options trading in four new contracts namely, guargum, soybean, refined soy oil and chana within two weeks. Currently generating a daily average turnover of around Rs 40 million in guarseed options, its only agro contract currently, the exchange has already received approval from the markets regulator the Securities and Exchange Board of India (Sebi) to launch options trading in these additional commodities.

Chana rises in Delhi as govt extends peas import ban.

Despite higher arrivals, chana prices in Delhi rose as the government extended the import ban on peas for another three months until December and on improved demand from the dal millers. In Delhi, the pulse was sold at 4,425 rupees per 100 kg, up 75 rupees. Halt in the chana sales by NAFED is also seen creating positive sentiments.

Madhya Pradesh 2018-19 chana acreage may rise 10% on year.

Chana acreage in Madhya Pradesh is likely to rise 10% on year in 2018-19 (Jul-Jun) as patchy monsoon rains may prompt farmers to shift from wheat. Area under chana in Madhya Pradesh, the largest producer of the pulse, was 3.6 mln ha a year ago. Rains were not good in most parts of the state and that’s why farmers are expected to shift to chana from wheat. Farmers are likely to shift to chana mainly in Malwa, Nimar, Narmadapuram and Mahakaushal regions of the state. If farmers switch to chana, production may also rise nearly 10% on year to 5.4 mln tn.

Chana down in Bikaner on low demand from millers.

Prices of chana declined in the key market of Bikaner due to subdued demand from dal millers. In Bikaner, chana was sold at 4,000 rupees per 100 kg, down 50 rupees. In the benchmark market of Delhi, however, the pulse was at 4,225-4,250 rupees per 100 kg and arrivals were at 375 tn.

Chana up in Delhi on improved demand from millers.

Prices of chana rose in Delhi because of improved demand from dal millers. In Delhi, the benchmark market for the commodity, chana was sold at 4,250 rupees per 100 kg, up by 25-50 rupees. Restricted sales of the government’s procured inventory also supported prices. In Bikaner, a key market, prices were steady at 4,015 rupees per 100 kg.

Chana prices dn in Delhi on subdued dal millers buys

Prices of chana fell in Delhi due to subdued demand from dal millers. In Delhi, the benchmark market, prices of chana were down by 50 rupees. However, arrivals of chana declined. Prices of chana are likely to increase in the coming days owing to sluggish sales of government-procured stocks.

Ahead of the festival season, the government has released chana

Ahead of the festival season, the government has released some stock of chana from buffer stock in the market to ease its availability and keep a check on the prices. Nafed sold 1100 MT of chana through auction in Andhra Pradesh and Telangana at Rs 4006 per quintal. Nafed may start selling chana in Andhra Pradesh, Telangana, Karnataka, Gujarat and UP from buffer stock. No benchmark price of chana has been fixed for auction. Chana stock with Nafed is around 27 lakh metric tonnes. According to the fourth advance estimates released by the government, India’s chana production estimate for 2017-18 is 11.23 million MT which is 18.97 per cent higher than 2016-17 final production estimates of 9.38 million MT. However, market participants are expecting production to be around 9 million MT. Moreover, imports of chana is not happening this year due to thirty per cent import duty. According to DGFT, India chana imports for 2017-18 is recorded at 9.81 lakh MT which is 9.19 per cent lower than the imports of 10.80 lakh tonnes for 2016-17.

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.

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.

Delhi chana up on low arrival, likely rise in demand

Prices of chana rose today due to a fall in arrivals amid expectation of a rise in demand ahead of festival season. In Delhi, the benchmark market, chana was sold at 4,425 rupees per 100 kg, up 50-70 rupees. Arrivals of chana in Delhi were estimated at 375 tn. In Indore, a key market in Madhya Pradesh, prices were unchanged .

Canada 2018-19 chana prices seen dn 23% from Jul view on high supply

Canada’s farm agency has said the average domestic prices of chana for 2018-19 is likely to be at $475-$505 per tn, down 23% from July estimate. In its August report, Agriculture and Agri-Food of Canada said the prices are likely to fall because of an expectation of a rise in supply. Chana or chickpeas output in Canada in 2018-19 is estimated higher at 335,000 tn compared with 92,000 tn in the previous year.

Chana prices up in Delhi on demand from dal millers.

Chana prices in Delhi rose because of improved demand from dal millers. In Delhi, the benchmark market, chana was sold at 4,450 rupees per 100 kg, up 20-25 rupees. Arrivals of chana in Delhi were unchanged at 750 tn. Expectation of higher export demand from Bangladesh and Dubai are seen supporting prices. September contract of chana on NCDEX was up 48 rupees at 4,379 rupees per 100 kg.

In a first since export sops, 2,500 tn chana on way to Bangladesh.

India is exporting 2,500 tn of chana to Bangladesh, in a first deal since the government approved the export incentive on chana. Government had announced a 7%-export incentive on chana or Bengal gram in March under the Merchandise Exports from India Scheme. The deal (to export a total 2,500 tn chana) were contracted by a global grain company in a range of $640-$690 per tn, cost & freight basis, to be transported via rail.

Globally chana stocks are limited

Globally chana stocks are limited as Australia, the second largest producer of the pulse after India, is facing a severe drought this year which may see the output falling below 500,000 tn. In June, the Australian Bureau of Agricultural and Resource Economics and Sciences had forecast that the chana crop in the country in 2018-19 (Apr-Mar) may fall to 616,000 tn, down 40% from 1.03 mln tn seen in 2017-18. Currently, the price of the Australian chana is around $700 per tn for the old crop and $720 for the new crop that will be harvested soon.

Chana increases at delhi mandi.

Good buying emerged in chana prices due to limited supplies. The spot prices were trading in the range of Rs 4350-4400 per quintal with total arrivals of 20 motors. As per latest data compiled by Ministry of Agriculture, the pulses area lagged by 3.90% to stand at 115 lakh hectares.

NCDEX chana down on weak demand from dal millers.

Futures contracts of chana hit the 3% lower circuit on the NCDEX, owing to subdued demand from dal millers and domestic stockists. Futures contracts of chana hit the 3% lower circuit on the NCDEX, owing to subdued demand from dal millers and domestic stockists. The most active August contract was at 4,100 rupees per 100 kg, down 140 rupees. Fall in chana prices in key spot markets due to rise in arrivals also weighed on chana contract.