Chana

The National Commodity and Derivatives Exchange is set to relaunch futures trade in chana on Friday, after the Securities and Exchange Board of India gave its approval in this regard. According to the new contract, Bikaner in Rajasthan would be the main delivery centre, as opposed to Delhi in the previous contract.

Prices of chana were down in Delhi because of increase in supplies amid sluggish buying from the dal millers. Chana was quoted lower in the key markets despite reports of re-launch of the pulse on the NCDEX. Although arrivals are unchanged, they have been higher over the last three-four days compared to beginning of the month, which is seen creating bearish sentiment.

Prices of chana fell in Delhi because of high arrivals even as demand remained steady. In Delhi about 750 tonne of chana arrived, nearly double of the daily average arrival of 375 tonne. In the key market of Bikaner in Rajasthan, prices were unchanged. Trade was sluggish due to lack of clarity over the filing process for goods and services tax. Also, Chana down in Indore market on low demand.

Chana sold in benchmark market of Delhi, down 100 rupees from previous close. Arrivals in Delhi nearly doubled to 750 tonne from previous close. In the key market of Bikaner in Rajasthan, chana prices were unchanged. Demand of chana from dal millers is likely to increase going forward because of a slew of festivals in August.

Two new machine-harvestable varieties of chickpea or chana released in Maharashtra and Madhya Pradesh recently, according to a release by ICRI for the Semi-Arid Tropics. The new varieties will help growers address the issue of rising labour costs.

Prices of chana rise 25 rupees marginally in Delhi as demand from dal millers improved. Arrivals in Delhi 600 tonne vs 375 tonne. In the key market of Bikaner in Rajasthan, chana prices were unchanged at 5,200 rupees.

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