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India chana falls on output hopes, fresh supply
January 10, 2013 / 8:54 AM / 5 years ago

India chana falls on output hopes, fresh supply

MUMBAI, Jan 10 (Reuters) - Indian chana futures fell on Thursday on fresh supplies from parts of southern India, expectations of better output and likelihood of higher imports due to low stocks and a drop in kharif output.

* The most-active chana contract for April delivery on the National Commodity and Derivatives Exchange (NCDEX) was 0.48 percent lower at 3,557 rupees per 100 kg as of 0844 GMT.

* “Overall chana production is expected to remain higher this year but cold wave in some parts may hit yields,” said Nitin Taori, a trader from Khamgaon in Maharashtra.

* In the New Delhi spot market, chana, or chickpea, fell 9 rupees to 4,034 rupees per 100 kg.

* India’s efforts to encourage farmers to plant pulses, used in staple dishes like dal, will still leave output short of demand in the year to March 2013, a poll of importers and traders showed.

* The first advance estimates by the farm ministry show the output of kharif, or summer-sown pulses, could fall to 5.26 million tonnes from 6.16 million tonnes a year earlier. (Reporting by Meenakshi Sharma; Editing by Subhranshu Sahu)

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