MUMBAI (Commodity Online): Chana futures declined Friday on profit booking by the traders though firm demand in the local markets during the festive seasons limited the downtrend.
At NCDEX chana November contract is trading at Rs.3437 per quintal, a decline of 1.09 per cent against the previous close.
In the early sessions the contract traded at a range of Rs.3373-3484 per quintal. Open interest of the contract is 127440 lots and volume traded is 126290 lots for the time being.
Raising MSP of Rabi crop supported market sentiments where an overall bullish sentiment was already prevailing. MSP of Gram was raised by 33% to Rs 2800/Q from Rs 2100/Q.
As per the latest release of the Rajasthan Agriculture department, 228200 hectares has been covered under Chana cultivation as on 18th October 2011. In Maharashtra area sown under Chana cultivation stands around 6100 hectares till 18th October 2011.
No comments:
Post a Comment