India's chana futures extended the previous sessions' losses on Wednesday morning on stock limits imposed on traders by a key growing state and higher acreage under kharif pulses, analysts said. India's north western state of Rajasthan imposed stock limits on pulses in an attempt to chec
k hoarding, a senior government official said. See [ID:nBOM89475] India's prime minister asked state governments on Saturday to enforce limits on stocks that can be held by traders in an attempt to check hoarding of essential commodities. At 10:48 a.m., the September futures contract NCHU9 was down 1.07 percent at 2,487 rupees per 100 kg. But scanty rainfall and firm spot prices of kharif pulses restricted the downside, they added. The shortfall in India's monsoon rains since June 1 worsened to 28 percent on Aug. 8 from 25 percent three days earlier. See [ID:nDEL487024] Chana, a winter-sown pulse, is priced lower than kharif pulses like tur, urad and moong, but follows their trend as consumers tend to buy the cheaper substitute, pushing up its price as well.
k hoarding, a senior government official said. See [ID:nBOM89475] India's prime minister asked state governments on Saturday to enforce limits on stocks that can be held by traders in an attempt to check hoarding of essential commodities. At 10:48 a.m., the September futures contract NCHU9 was down 1.07 percent at 2,487 rupees per 100 kg. But scanty rainfall and firm spot prices of kharif pulses restricted the downside, they added. The shortfall in India's monsoon rains since June 1 worsened to 28 percent on Aug. 8 from 25 percent three days earlier. See [ID:nDEL487024] Chana, a winter-sown pulse, is priced lower than kharif pulses like tur, urad and moong, but follows their trend as consumers tend to buy the cheaper substitute, pushing up its price as well.For further details visit as ; http://in.reuters.com/article/domesticNews/idINBOM25230420090812
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