January 22, 2013 / 8:59 AM / 5 years ago

India chana futures steady

MUMBAI, Jan 22 (Reuters) - Indian chana futures were steady on Tuesday as higher area under cultivation and supplies from the new season crop were offset by fears of crop damage due to frost in Madhya Pradesh and Rajasthan.

* Arrivals from the new season crop have started from Andhra Pradesh, Karnataka and Maharashtra. Supplies from other places are expected in the coming days.

* As of 0842 GMT, the most-active chana contract for April delivery on the National Commodity and Derivatives Exchange (NCDEX) edged down 0.06 percent at 3,574 rupees per 100 kg.

* “The area sown under rabi pulses have risen above area sown last year but there are doubts on gain in crop size given severe cold wave in north India may impact productivity,” Kotak Commodities said in a research note.

* In the New Delhi spot market, chana, or chickpea, was almost steady at 3,937.5 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 Sunil Nair)

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