Home » Commodity » Chana prices following rising arrivals and increased output estimates for Indian pulses in 2010-11

Sunday, April 17, 2011

Chana prices following rising arrivals and increased output estimates for Indian pulses in 2010-11

Chana prices following rising arrivals and increased output estimates for Indian pulses in 2010-11 : Chana prices have weakened following rising arrivals and increased output estimates for Indian pulses in 2010-11 at over 17 mn tonnes. The NCDEX May Chana contract has fallen 2.21% to 2383. According to traders, daily chana arrivals in Rajasthan have gone up to 50,000 bags of 100 kg each, whereas in Madhya Pradesh it is touching 100,000 bags per day.

The May contract touched a low of Rs 2,363 this week. Arrivals of other pulses, rising production and acreage are contributing to bearish trend in chana. Production of chana, or chickpea, is likely to fall to 7.37 million tonnes from 7.48 million tonnes a year ago, the farm ministry said.

Chana prices are due for an upward correction on lower prices and buying at lower levels. For the latest updates PRESS CTR + D or visit Stock Market news Today

Related Post:

Posted by at
Labels:

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)