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Chana closes higher on high buying activity

By Religare

Chana prices closed higher by 0.64 per cent on Saturday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the traders enlarged their holdings in the commodity on account of the good demand in the market. At the NCDEX, chana futures for November 2012 contract closed at Rs. 4,718 per quintal, up by 0.64 per cent, after opening at Rs. 4,700 against the previous closing price of Rs. 4,688. It touched the intra-day high of Rs. 4,728.


Moreover, the restricted arrivals of the commodity in the physical market due to lower estimated output also influenced the chana prices.

India is the largest producer of chickpea followed by Pakistan, Turkey and Iran. India produces around 6 to 8 million tonnes and contributes around 70 per cent of the total world production.

Story first published: Monday, November 19, 2012, 15:30 [IST]
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