MCX TIPS--- CHANA AGRI MARKET UPDATE BY MARKETMAGNIFY

Chana settled up by 0.96% at 4822 on limited supplies and improving demand in the spot market. Deficit monsoon in August and expensive imports may support the prices at higher levels in coming weeks. As per 4th Advance Estimates for 2014-15, Chana production is estimated at 7.17 million tonnes (mt) against 7.59 mt in 3rd estimate. According to the latest govt data, country has imported about over 1 lakh tonnes of chana in during first two months of MY 2015-16. In 2014-15, Indian imported 4.19 lt , which is more than 51.8 per cent higher than the quantity imported in the entire MY 2013-14.

Chana trading range for the day is 4761-4869.
Chana prices ended with gains on limited supplies and improving demand in the spot market.
As per 4th Advance Estimates for 2014-15, Chana production is estimated at 7.17 million tonnes.
NCDEX accredited warehouses chana stocks dropped by 220 tonnes to 109668 tonnes.
In Delhi spot market, chana gained by 134.25 rupee to end at 4900 rupee per 100 kgs.

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