Todays Freshly Commodity Update of Chana N Barely

Barley prices closed lower by 0.27 per cent on Friday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the investors booked profits at the higher on account of the weak physical markets and also due to the fall in the demand from beer and cattle-feed makers. At the NCDEX, barley futures for June 2014 contract closed at Rs. 1,127 per quintal, down by 0.27 per cent, after opening at Rs. 1,128 against the previous closing price of Rs. 1,130. It touched the intra-day low of Rs. 1,127.Sentiment weakened further on account of a surge in the arrivals of the commodity along with the sluggish demand on higher levels.Barley is a cereal grain derived from the annual grass Hordeum vulgare. This widely adaptable crop is popular in temperate areas where it is grown as a summer crop and tropical areas where it is sown as a winter crop

                     

  Chana prices closed higher 0.51 per cent on Friday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the traders enlarged their holdings in the commodity on account of the good demand in the market. At the NCDEX, chana futures for April 2014 contract closed at Rs. 4,571 per quintal, up by 0.51 per cent, after opening at Rs. 4,564 against the previous closing price of Rs. 4,548. It touched the intra-day high of Rs. 4,584.
Moreover, the restricted arrivals of the commodity in the physical market due to lower estimated output also influenced the chana prices.India is the largest producer of chickpea followed by Pakistan, Turkey and Iran. India produces around 6 to 8 million tonnes and contributes around 70 per cent of the total world production.

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