India chana futures extended losses Friday tracking a spot market where arrivals gained pace, and as traders eyed higher output projections, analysts said.
Arrivals from main producers Madhya Pradesh and Rajasthan were rising and will remain robust this month, said an analyst with SMC Comtrade.
The federal farm ministry last month said 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 1:36 p.m., the April contract NCHJ9 on the National Commodity and Derivatives Exchange (NCDEX) was down 0.75 percent at 2,236 rupees per 100 kg.
In the Delhi spot market, prices eased by 10 rupees to 2,150 rupees per 100 kg.
GUAR:
Futures were higher on a revival in export demand triggered by a falling rupee, analysts said.
"Export enquiries have increased in the past few days...China and Brazilian buyers may buy about 20,000 tonnes of the commodity in March," said a Subodh Punia, an exporter in Jaipur, Rajasthan.
The Indian rupee has shed about 6 percent so far during the year, and hit a record low of 52.20 per dollar last week.
