Agri Commodities Preview: Chana Set To Extend Gains

Chana should extend the latest spurt. Sharp gains were reported in Chana futures yesterday due to rise in Minimum Support Price (MSP) by Madhya Pradesh government coupled with seasonal demand of dal millers. The NCDEX April Benchmark futures increased by almost 4 percent to settle at Rs 3727 per quintal. As per market sources, the Madhya Pradesh government has increased the MSP of chana to Rs 4400 per quintal. This has encouraged speculative buying in futures market.