MUMBAI, March 23 (Reuters) - India chana futures rose on Monday morning on short-covering, driven by firm prices of summer-sown pulses and tracking firmness in other agriculture commodities on the exchange platform, analysts said.
Most agriculture commodities were up in early trade on Monday as was indicated by the NCDEX Future Agri Index .NCDFUTAG which was up 0.25 percent at 1,981.11 points at 10:45 a.m..
At 10:46 a.m., the April chana futures contract NCHJ9 on the National Commodity and Derivatives Exchange (NCDEX) was up 0.63 percent at 2,238 rupees per 100 kg.
But, rising arrivals from main producing belts and higher output estimates capped the upside.
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.
The government decision last week to extend a ban on pulses exports and continue zero-duty imports also weighed on prices.
GUAR:
Futures opened higher on some export demand from China and Brazil, but hopes of a good monsoon limited gains, analysts said.
Last week, a weather official said a warmer summer augurs for a good Indian monsoon.
Source : REUTERS INDIA