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Chana futures may continue its upward journey on NCDEX (National Commodity and Derivatives Exchange Ltd) with strong demand during the ensuing festival season.
Chana for August delivery on NCDEX had gained 2.6 per cent at Rs 4,621 a quintal on Saturday. The contract was up 0.39 per cent at Rs 4,621 at 11.50 am on Monday. It touched a high of Rs 4,677 and low of Rs 4,625 per quintal.
The area under chana cultivation during this kharif season was at 13.04 lakh hectares till July 6, same as last year.
However, delay in the onset of monsoon and deficient rains in the growing areas are likely to impact the output this year.
NCDEX has allocated 2,950 tonnes of chana through staggered delivery in July contract.
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