Chana settled down by -3.67% at 4337 due to ample supplies from the major producing states against subdued spot market demand. Besides, improvement in Kharif pulses sowing also influenced chana prices. Moreover, the production estimate of Gram in 2014-15 is only 910,000 tons as compare to 1.64 million tons in 2013-14 which is around 45% lower than last year. Rajasthan is the country's second producing state and this decline in production will not make the prices to decline steeply in near term. Meanwhile, government has no proposal to impose duty on pulses imports in view of shortage, said Food Minister, Ramvilas Paswan. India imported nearly 4.6 million ton pulses in 2014-15 up from 3.17 million ton a year ago. In MP, as per state Agricultural department, till 27th July ~13.24 lakh ha area has been sown under pulses which is 20% higher vs last year’s 11.09 lakh ha. As per state Agricultural Department of Rajasthan, around 20.95 lakh ha area has been cultivated under pulses till 27th July which is 82% of the target sowing area of 25.60 lakh ha. Around 9.23 lakh ha has been cultivated under moong vs 6.64 lakh ha last year. In addition, Urad sowing has exceeded the figure of 2.09 lakh ha vs its set target of 2 lakh ha. In Delhi spot market, chana dropped by -87.9 rupee to end at 4452.1 rupee per 100 kgs.Technically market is under fresh selling as market has witnessed gain in open interest by 6.76% to settled at 168110 while prices down -165 rupee, now Chana is getting support at 4272 and below same could see a test of 4208 level, And resistance is now likely to be seen at 4450, a move above could see prices testing 4564.

Trading Ideas:

Chana trading range for the day is 4208-4564.

Chana prices ended with losses due to ample supplies from the major producing states against subdued spot market demand.

Meanwhile, government has no proposal to impose duty on pulses imports in view of shortage, said Food Minister, Ramvilas Paswan.

India imported nearly 4.6 million ton pulses in 2014-15 up from 3.17 million ton a year ago.

In Delhi spot market, chana dropped by -87.9 rupee to end at 4452.1 rupee per 100 kgs.