COMMODITY TIPS | Chana prices closed higher 1.7% on Wed at the National Commodity & Derivatives Exchange Limited (NCDEX) as the traders enlarged their holdings in the commodity on account of the good demand in the market. At the NCDEX, chana futures for Dec 2015 agreement closed at Rs. 5,090 per quintal, up by 1.7 per cent, after opening at Rs. 5,040 against the last closing price of Rs. 5,005. It touched the intra-day high of Rs. 5,094.
Moreover, the restricted arrivals of the commodity in the physical market because of lower estimated output also influenced the chana prices.
India is the biggest producer of chickpea followed by Pakistan, Turkey and Iran. India produces around 6 to 8 million tonnes and contributes around 70% of the total world production.
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