Chana on NCDEX settled up by 0.39% at 4334 as the lower imports, rise in consumption and diminished stocks with physical traders encouraged the buying.
NAFED procured 762,781.46 tons of chana in Telangana, Rajasthan, Maharashtra, Madhya Pradesh, Andhra Pradesh, Uttar Pradesh, Haryana, Karnataka and Gujarat under Price Support Scheme (PSS). Chana prices also got support due to the estimation of lower output this year.
Trading Ideas:
* Chana trading range for the day is 4279-4391.
* Chana prices gained as the lower imports, rise in consumption and diminished stocks with physical traders encouraged the buying.
* Chana prices also got support due to the estimation of lower output this year.
* Chana output forecast revised slightly lower at 100.90 lakh tons in third advance estimates compared to 103.2 lakh tons in second advance estimates.
* In Delhi spot market, chana gained by 15.7 Rupees to end at 4265 Rupees per 100 kgs.
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