Chana futures spurted by almost Rs. 50 per quintal today triggered by strong buoyancy in both domestic mandies and imported chana along with strong export demand of kabuli chana.
As per market sources, strong gains were reported in all the major mandies as the spot prices of chana at Delhi mandi gained almost Rs. 50 per quintal today. The prices of chana Annagiri and Chapa quality were trading in the range of Rs. 3600-3700 per quintal.
Similar trend was also seen in imported pulses as the spot prices of Australian and Tanzania chana were trading at Rs. 3300 and Rs. 3050 per quintal respectively at Mumbai port with the gain of over Rs. 25 per quintal today.
Moreover, trade sources revealed that India's chana export demand might reach 1.85 lakh tonnes in the current year against 0.95 lakh tonnes that were reported from the last year. This is mainly due to weak export supplies of Kabuli chana from both Mexico (-61%) and Australia ( -35%) at international market
Consequently, the NCDEX November futures increased by more than Rs. 50 per quintal to trade at Rs. 3236 per quintal today.
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