Chana futures closed down on profit booking at higher levels. However, expectation of lower supply and firm demand keeps prices higher in the spot market.

 Chana futures for Jul delivery closed 1.74% down to settle at Rs 6,965 per quintal. To control prices exchange has increase 10% special margin for the buy side. Now the total additional and special margin increased to 55% for long side. 

Import price of chana has also been rising steadily with the landed cost increased by Rs 2,000 in 4 month. India imports more than 70 % of chana from Australia, which is proving very expensive. 

Chana imports into the country touched about 10.31 lt in the current financial year (2015-16), higher by 146% compared to previous FY 2014-15. Moreover, government initiative to check rising prices is restraining the uptrend. Prices have been surging higher on anticipation of supply crunch in coming months due to lower production and good demand.

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