NCDEX Chana closes lower on higher arrivals

Chana prices closed lower by 0.12 per cent on Monday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the steady sowing progress of pulses along with high supplies in major producing states. At the NCDEX, chana futures for July 2013 contract closed at Rs. 3,246 per quintal, down by 0.12 per cent, after opening at Rs. 3,257 against the previous closing price of Rs. 3,250. It touched the intra-day low of Rs. 3,241. 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.

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