Chana Ends Higher As Traders Increased Holdings

 

Chana prices closed higher 2.5 per cent on Tuesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the traders enlarged their holdings in the commodity on account of the good demand in the market. At the NCDEX, chana futures for November 2015 contract closed at Rs. 4,955 per quintal, up by 2.5 per cent, after opening at Rs. 4,860 against the previous closing price of Rs. 4,834. It touched the intra-day high of Rs. 4,970.
 

Moreover, the restricted arrivals of the commodity in the physical market due to lower estimated output also influenced the chana prices.


India is the largest Manufacturer of chickpea followed by Pakistan, Turkey and Iran. India produces around 6 to 8 million tonnes and contributes around 70 %cent of the total world production.

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