Thursday, 24 November 2011

NCDEX Channa Rising Up

At NCDEX Channa likely to be trade between Rs.3417 per quintal, higher by 1.63 percent. Earlier before the contract traded between Rs.3360-3419 per quintal. Open interest of the contract is 191900 lots and volume traded is 65750 lots for the time being. There are reports that supplies in the global markets are tight. This will make imports costlier. Further, reports of lower sowing under pulses in A.P. and Karnataka due to dry spell are likely to provide support to the prices. According to the Ministry of Agriculture, pulses have been sown in 49.75 lakh hectares as on November 18th 2011 as compared to 46.33 lakh hectares in the last year same period.

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