India chana futures climb on firm kharif pulses

MUMBAI, Nov 4 (Reuters) - India's chana futures climbed on Wednesday afternoon supported by firm prices of kharif pulses and as traders were betting acreage under the winter pulse may fall in Rajasthan on scanty rains, analysts said.

"A sharp rise in other pulses has been firming up chana," said Nitin Kalantri, a dal miller based in Latur, Maharashtra.

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.

At 2:24 p.m., the November chana contract NCHZ9 on the National Commodity Derivatives Exchange was down 0.23 percent at 2,646 rupees per 100 kg.

"Market is worried the way monsoon behaved in Rajasthan. Conditions are not good there," said Ashwini Bansod, a senior analyst at MF Global Commodities India Ltd.

Western Rajasthan received 41 percent below-normal rains in June-September monsoon season while eastern part fell short 30 percent, weather department data showed.

In the Delhi spot market, the price fell by 11 rupees to 2,520 rupees per 100 kg.

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