CHANA FUTURES PROLONG THE SUBDUED TREND
DATE: 18/04/2012
Chana futures edged lower tracing the slow demand of the commodity in the mandis. The commodity continues to trade steady in mandis on account of higher arrival. Rajasthan line chana stayed steady at Rs 3,500-3,525 a quintal. MP line chana was quoted steady at Rs 3,500-3,525 per quintal. However, reports stating lower production estimates of the Chana, may lend some support to the price of the commodity in the near term. According to reports, production of chana is expected to drop to 7.66 million tonnes in 2011-12 from 8.22 million tonnes a year earlier.
The contract for April delivery was trading at Rs 3576.00, down by 0.83% or Rs 30.00 from its previous closing of Rs 3606.00. The open interest of the contract stood at 14500 lots.
The contract for May delivery was trading at Rs 3686.00, down by 0.54% or Rs 20.00 from its previous closing of Rs 3706.00. The open interest of the contract stood at 101670 lots on NCDEX.
POWERED BY: COMMODITY INSIGHTS
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