Chana/Desi Chick Peas: Bullish, Stress on NCDEX
September 11, 2017 at 7:16 AM ,
Rainbow Exports
Chana bullish, Stress on NCDEX, NCDEX May increase Margin Money
Once again on 14th July, 2017, the futures trading of Chana started trading on NCDEX and it is not over in August. During the nearly one-and-a-half month business, prices of gram rose to US$235 per mt. from the lower levels, which has seen an increase of about 33% from the lower levels. The increase in the gram has raised the concerns of Chhakmag once again on the forehead and is considering increasing the margin money. According to information received from Market Times, NCDEX can increase margin money on gram soon and the agency of the speedy recovery has started in the investigation.
However, the market experts believe that the limit on the import of pulses in the gram prices is contributed, but there is a record production of pulses in the current season even all the pulses in the country were trading below their support prices, due to which tur, lentil and Import limit was imposed on URAD (Black Mapte). Talking of gram, the gram production is expected to be around 9.7 million tonnes in the current season. That is about 25 percent more than the total demand.
As per talk to industries experts and according to all India Dal Mill Association, about the rise in the unexpected gram in the prices of gram and the main reason for the increase in gram prices is to return to the fodder futures is. Because of this, Chana is seen betting once again. In the same day, the market is becoming red due to the fundamentals of gram of gram and the second moment is moving into a positive circuit, which is beyond the understanding of the general business. It can not be denied that betting in the gram is being denied.
Secondly, the news of the increase in the production of gram from Australia has not only been stopped but reports of decrease in gram production are being recorded. This has led to the equation of boom in gram prices.
On the other hand, the message of doubling the income of farmers of the country's prime minister has also accelerated Agri Commodities so that farmers can get a fair price for their crops. The effect of this message has also been seen on the prices of gram and Chana traders are assuming that the government will work only on the increase in the prices of the crops to double the income of the farmers so that the traders have stopped gram.
At present, the support price for the gram is US$656 per mt. and Chana is trading in the spot market at US$970 to US$990 per mt.. Recently, Chana is trading below US$780 and now it is trading above US$940 to 960 per mt.
Attached Files
View related articles
