Chana prices rose in spot and NCDEX 1.25 per cent.
Ram Gopal Yadav (9 years ago)

Chana prices rose by 1.25 per cent to Rs 5,855 per quintal in futures trading as traders built up fresh positions amid uptick in demand in the spot market.The rise in chana prices in futures trade to fresh positions created by participants after pick up in demand in the spot market.

Kabuli gram, arhar rise on stockists’ buying.
Ram Gopal Yadav (9 years ago)

Prices of kabuli gram and arhar rose by Rs 100 per quintal at the wholesale market on revival of buying by stockists amid pick-up in demand from retailers. Fresh buying by stockists backed by uptick in demand from retailers against restricted supplies from producing belts mainly led to the rise in kabuli gram and arhar prices.

Myanmar blames India for restricting pulses import quota.
Ram Gopal Yadav (9 years ago)

Yangon has blamed New Delhi for restricting import of three major pulses from Myanmar, saying that the move has plunged Burmese pulses industry into chaos. In August, India announced a 200,000-ton import quota on pigeon peas and 300,000-ton quota on mung bean and green grams. The severe restriction by India limiting the amount of pea products from Myanmar has quickly and adversely affected the Burmese pulses market. The restriction would help support prices of lentils in India but would put pressure on producers in Myanmar who rely heavily on export to India. Myanmar has been exporting peas to India for nearly three decades, while India exported medicines, sugar and agricultural machinery to Myanmar. Yangon’s commodity depot has ceased operation due to India’s import quota restriction on pulses, prompting the pulse prices to plummet.

STC floats tender to sell 2,362 tonne imported urad in Chennai.
Ram Gopal Yadav (9 years ago)

STC Ltd has floated a tender to sell 2,362 tonne of imported urad from the 2016 Myanmar-origin crop. The commodity is at the Central Warehousing Corp in Virugambakkam and Royapuram in Chennai. Bids must be submitted on Aug 29, and opened on the same day. The bids remain valid until Sep 8.

India Sugar up in spot markets ahead of festival season, futures flat.
Ram Gopal Yadav (9 years ago)

Prices of sugar were up in the key wholesale markets across the country due to expectations of a rise in demand in the run up to the festival season starting next month. In Maharashtra, demand picked up also because markets closed for three days for Ganesh Chaturthi, starting from Friday. Mills in north India are increasing prices steadily as they expect demand to improve significantly before Durga Puja, Navratri and Dussehra.

Traders warned against illegal hike in sugar prices.
Ram Gopal Yadav (9 years ago)

Hyderabad: Commissioner for Civil Supplies C.V. Anand warned sugar traders against hiking the price by creating scarcity by stock holding of sugar illegally and practicing of speculative ctivities. Licensed Dealer / Trader should not sell sugar more than the price decided by Central government or state government. Raids should be conducted to check if any trader is doing business without license. A person engaged in the business of purchase sale and storage for sale of sugar and quantities of five quintals is considered as sugar dealer. Wholesale should get license from concerned district Civil Supplies officer, Tahasildar, if he fail to have license action will be taken under Civil Supplies Act.

NCDEX chana futures hit highest level since relaunch.
Ram Gopal Yadav (9 years ago)

Futures contracts of chana on the NCDEX hit 5,847 rupees per 100 kg, the highest since the re-launch of the contract. Investors bought chana futures on the expectation of better demand in coming days ahead of festivals. The most-active September contract was up 0.8% from the previous close. Prices of chana in spot markets were, however, steady.