NCDEX Chana edged lower on Wednesday due to profit booking on sufficient supplies and steady physical demand and close at 4,001 rupees per 100 kg. It is currently trading at 10-month low due higher stocks with the trader. For 2018/19, chana output forecast revised slightly higher at 101.30 lt in 4th advance estimate compared to 100.9 lt in 3rd advance estimate.
As per govt data, during first quarter of FY19-20, chana imports increase to 50,000 compared to only 13,500 t last year. However, imports were down by 84% to 1.86 lt in 2018/19 (Apr-Mar) compared to 9.81 lt last year, while exported are about 2.28 lt compared to 1.28 tonnes last year. NAFED is holding more than 12.8 lt of chana from last season. Currently, chana attract 60% import duty since Mar 2018 which restricted imports. In new season NAFED only procured about 7.76 lt compared to more than 23 lt last season.
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