NCDEX chana down as exchange imposes 5% margin.

Futures contracts of chana on NCDEX were down for the third straight day as the exchange has imposed 5% additional margin on buy and sell positions. The most active September contract traded down 2.7% from the previous close. According to traders, speculators have reduced their positions as well as exposure which is the result of easing demand due to adequate stocks present in the spot market.

NAFED buys 60,259 tonne chana of 2016-17 crop from 4 states.

As of Wednesday, the National Agricultural Cooperative Marketing Federation of India had procured 60,259 tonne of chana from the 2016-17 (Jul-Jun) rabi crop from four states. The slowdown in the pace of procurement was due to rising prices in spot markets ahead of festivals.

Tur down in Kalaburagi as govt relaxes import norms.

Prices of tur in Kalaburagi in Karnataka were down as the government relaxed norms for import of the commodity from Myanmar. Importers of tur, who had signed import contracts prior to a quantitative cap on overseas purchases on Aug 5, can avail relaxation on the import cap if they register those contracts with the government.