RTRS: India chana, guar fall on output, profit-taking
India chana futures extended losses on Friday afternoon as sentiment was depressed by an estimated rise in output, and on a weak spot market that saw a rise in arrivals, analysts said.
"Arrivals were about 40 trucks in Delhi compared to yesterday's 30 trucks," said Ajitesh Mullick, an analyst at Religare Commodities Ltd.
Arrivals from top producer Madhya Pradesh may increase in coming weeks, he added.
The federal farm ministry last week said India's chana output may rise by 13.7 percent to 6.54 million tonnes in 2008/09 compared with 5.75 million tonnes a year ago.
At 2:04 p.m., the benchmark March contract NCHH9 on the National Commodity and Derivatives Exchange (NCDEX) was down 1 percent at 2,280 rupees per 100 kg.
In the Delhi spot market, prices eased by 15 rupees to 2,200 rupees per 100 kg.
GUAR:
Guar futures were trading lower on profit-taking after rising about 3 percent in the previous session, analysts said.
At 2:04 p.m, March futures NGUH9 contract was down 0.51 percent at 1,554 rupees per 100 kg on NCDEX.
