India chana futures opened lower on Thursday, depressed by tepid demand in spot as traders expect that expanded acreage and good weather will yield a bigger crop, analysts said.
Acreage under chana rose by 9.75 percent to 7.32 million hectares on Dec. 11 compared with the same period a year ago, farm ministry data showed on Friday.
At 10:55 a.m., the benchmark January contract NCHF9 on the National Commodity and Derivatives Exchange (NCDEX) was down 0.05 percent at 2,105 rupees per 100 kg. But buying at lower levels limited the downside.
GUAR:
Futures opened lower on sluggish export demand due to a slowing global economy, analysts said.
At 10:47 a.m., the January guar futures contract NGUF9 on the National Commodity and Derivatives Exchange was down 0.07 percent at 1,508 rupees per 100 kg.
Thin arrivals at big spot markets in Rajasthan and buying at lower levels limited losses.
Source : Reuters India