Chana futures on the National Commodities and Derivatives Exchange Ltd (NCDEX) continue its upward journey due to strong demand during the upcoming festival season, according to BL report. For the August delivery on NCDEX gained 2.6 per cent at Rs 4,621 a quintal on Saturday. With an increase of 0.39 per cent at Rs 4,621 at 11.50 am on Monday reaching a hike of Rs 4,677 and low of Rs 4,625 per quintal.
The chana cultivation area during this kharif season was at 13.04 lakh hectares till July 6, same as last year. Yet the onset of monsoon delay and scarce rains in the growing areas are are likely to impact the output this year. NCDEX has allocated 2,950 tonnes of chana through staggered delivery in July contract, added the report.