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01-Dec2012

Chana futures drop on increased supply

Chana futures showed a bearish trade on NCDEX. Steady progress in sowing of pulses and increased supplies in the physical markets from the major producing states lowered the prices. India produces around 6 to 8 million tonnes and contributes around 70% of the total world production.

The contract for December delivery was trading at Rs 4,187.00, down by 0.78% or Rs 33.00 from its previous closing of Rs 4,220.00. The open interest of the contract stood at 46750 lots.

The contract for January delivery was trading at Rs 4,116.00, down by 0.07% or Rs 3.00 from its previous closing of Rs 4,119.00. The open interest of the contract stood at 80810 lots on NCDEX.


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