Chana futures traded with a positive bias on Friday supported by lower level buying and festive demand. Chana October contract rose 0.5% to Rs 2808 on India's National Commodity& Derivative Exchange. Higher imports of yellow peas, comfortable Chana stocks and better than expected kharif pulses sowing may keep prices under downside pressure. However, lower level demand as well as festive buying may support prices at lower levels.CCEAincreased the MSP of tur and urad by Rs.50 to Rs.4,350 each, while the MSP of moong was increased by Rs.100 to Rs.4,600/qtl.
Supplies of Chana since past one year has been ample as the country reaped bumper Chana output in 2012-13 season. For 2013-14 too, the government in their fourth advance estimates has projected record output of at 9.88 mn tonnes in the Rabi season.
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