CHANA FUTURES EDGE LOWER ON SUBDUED DEMAND
DATE: 16/04/2012
Chana futures edged lower tracing the slow demand of the commodity in the mandis. However, lower production prospects for Pulses may firm up the trend for Chana. As per reports from the India Pulses and Grains Association, Pulses output is likely to fall to 17.5 MT against 18.2 MT last year. A rise in imports to 3-3.5 MT expected could also provide support to the price of the commodity in medium term
The contract for April delivery was trading at Rs 3661.00, down by 0.22% or Rs 8.00 from its previous closing of Rs 3669.00. The open interest of the contract stood at 21700 lots.
The contract for May delivery was trading at Rs 3772.00, down by 0.50% or Rs 19.00 from its previous closing of Rs 3791.00. The open interest of the contract stood at 103790 lots on NCDEX.
POWERED BY: COMMODITY INSIGHTS
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