Chana trading higher on spot, low on future

MUMBAI: The benchmark March chana contract on NCDEX was up 1.8% at Rs 2,135 per quintal. Against this the NCDEX polled spot price at Delhi was Rs 2,316.3 per quintal, down from Rs 2,334 on Saturday. Traders say the futures are bound to rise to close this gap between spot and futures.

Pepper was down 1.5% at Rs 12,303 for March delivery while jeera rose across all contracts. The March jeera contract on NCDEX rose 2.1% to close at Rs 11,615 per quintal.

April and May contracts were up 2.4% and over 3% at Rs 11,970 and Rs 12,361 per quintal, respectively over Saturday’s close. This was due to reports of likely precipitation over Rajasthan over the next 48 hours.

Soya oil for March delivery was up 3 points at Rs 441 per 10 kg while guarseed for the most active April contract was up a fourth of a per cent at Rs 1,933 per quintal. At NCDEX, 608 members (2,789 users) participated in trading up to 5.00 pm and volumes were Rs 3,007 crore (one-way). There were more than 92,580 trades put through by them.