India chana futures tad lower on ample stocks

MUMBAI, Oct 27 (Reuters) - India chana futures were a tad lower on ample stocks, but firm domestic demand and firm kharif pulses kept the downside limited, analysts said.

In 2008/09, the country had produced a record 7.05 million tonnes of chana, sharply higher compared with 5.75 million tonnes harvested a year ago, farm ministry data showed.

Chana, a winter-sown pulse, is priced lower than kharif pulses like tur, urad and moong, but follows their trend as consumers tend to buy the cheaper substitute.

The benchmark November contract NCHX9 on the National Commodity and Derivatives Exchange (NCDEX) traded 0.76 percent lower at 2,485 rupees per 100 kg at 10:49 a.m.

GUAR:

India guar futures were slightly lower on absence of export demand, but lower crop output fears limited the losses, analysts said.

Poor monsoon has damaged nearly 70 percent of the standing guar crop in Rajasthan, which accounts for four-fifth of the country's guar acreage, a top state government official said last month. See ID:

At 10:50 a.m., the November guar futures contract NGUX9 was down 0.25 percent at 2,441 rupees per 100 kg.

(Reporting by Siddesh Mayenkar; Editing by Sunil Nair)