Chick Peas (Chana Gram): Rally Continue, traded at upper circuit on future market
August 31, 2017 at 8:40 AM ,
Rainbow Exports
Rally Continue in Chana, traded at upper circuit
After the ban on the import of pulses and among the instability of the monsoon, there is tremendous speed in gram. There has been a steady rise in the chana market since last week. In the first trading day of the week, Charna got the above circuit. Chana September futures is currently trading at its upper level of US$980 per mt. today. According to the Mumbai businessman, the main reason behind the increase in gram is the ban on the import of pulses, as well as the uncertainty of rains in pulses is the main reason. But at the same time, another trader said that in the current season, record production of gram can be recorded at present. Due to the record production of gram, gram should not be considered too much. The effect of the ban on import of pulses has been seen continuously for the past few days. Yes, reports of the weakness of the monsoon and the reports of floods in half of India have given new direction to the prices of gram
Chana (Gram) under Surveillance, breached US$1000 level, 33% hike in 30 days
After unexpected rise in the prices of gram in the past few days and the return on the futures to the futures, once again, unlike the fundamentals, there seems to be a break in the market. According to information received by the market times, the exchange is keeping an eye on the speed in the gram, not only that but the government investigation agencies have started investigating the speed of gram.
According to information received, the prices of gram have increased once again in the last one month, more than 30 per cent, which has come after the launch of gram futures. Prior to the arrival of the fodder on the gram, there was unilateral fall in the prices of gram. News of betting cannot be denied. So far, sowing of pulses in the country is being considered as a record. The rise in prices of pulses is part of the government policy, so that farmers do not have to sell pulses below the support price in the open market.
Chana was trading at US$670 per mt. and now prices have gone up to US$ 1000 per mt. which has raised US$320 per mt. in the last 30 days, which has been hiking around 33 per cent on lower levels.
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