MUMBAI, Feb 27 (Reuters) - India chana futures fell on Friday afternoon tracking weak spot markets, where arrivals from top producer Madhya Pradesh rose amid subdued demand, analysts said. "Demand was weak in major spot markets," said a senior analyst at SMC Comtrade.
Higher output estimate also put pressure on prices, they added.
The federal farm ministry earlier this month said 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 2:06 p.m., the April contract NCHJ9 on the National Commodity and Derivatives Exchange (NCDEX) was down 0.44 percent at 2,262 rupees per 100 kg.
In the Delhi spot market, prices fell by 19 rupees to 2,131 rupees per 100 kg.
GUAR:
Indian guar futures fell on Friday on profit-taking after rising for the last three sessions, analysts said.
Spot prices fell by 14 rupees to 1,574 rupees in Bikaner, a major trading centre.
At 2:06 p.m, most-active March futures contract NGUJ9 fell by 1.29 percent to 1,611 rupees per 100 kg on NCDEX. (Reporting by Rajendra Jadhav & Sourav Mishra; Editing by Harish Nambiar)
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