Chana prices rise by almost 4% on export sop, MSP procurement talk

Under MEIS, exporters get access to a scrip which they can invoke as and when they imports a similar quantity

Chana (bengal gram) April futures on the National Commodity and Derivatives Exchange Ltd (NCDEX) rose by almost four per cent on Monday to close at Rs 3,727 per quintal over talk that Centre might further expand the seven per cent export incentive announced last month while there could be further revision in Minimum Support Price (MSP) in the coming months.

Madhya Pradesh’s decision to exclude chana and masur, two major lentils grown in the state from the much-talked about Bhawantar Bhugtan Yojana (BBY) also lead to the price increase, but it wasn’t big enough to warrant the rise.

“The market