Strong offtake spices up chana, coriander futures on NCDEX by admin- Wednesday, April 7th, 2021 07:50:17 AM
Chana and coriander (Dhaniya) futures on the National Commodity and Derivatives Exchange (NCDEX) endured their uptrend on Tuesday at the lower back of exact call for.
Chana for April delivery turned into up two in keeping with cent at ₹five,312 a quintal, even as dhaniya gained 3 in line with cent to ₹7,380 a quintal on Tuesday.
Chana futures at the NCDEX has been transferring up consistently for the previous few days on expectancies of better demand all through the impending competition season amid lower inventories.
This apart, the concern of unseasonal rain inside the early part of this yr has stoked up crop harm fears in some of the northern states.
In addition, the authorities has spruced up procurement via minimum assist charge as better arrivals at foremost markets have pulled down spot expenses below the ₹5,one hundred in keeping with quintal. Chana arrivals final month improved 3-fold to 6.Four lakh tonnes.
The authorities corporation Nafed is learnt to have procured 1.24 lakh tonnes of chana in Andhra Pradesh, Maharashtra, Madhya Pradesh, Telangana, Karnataka and Gujarat.
As in line with Ministry of Agriculture information, chana sowing in this Rabi season crossed 112 lakh ha, that is up with the aid of approximately 5 in keeping with cent from equal duration ultimate yr.
The 2nd advance estimates of Ministry of Agriculture pegs chana manufacturing at a file excessive of 116 lakh tonnes in 2020-21 season (111 lakh tonnes).