MUMBAI, June 30 (Reuters) - India chana futures erased early gains on Tuesday afternoon on profit-taking, but a sharp rise in kharif pulses due to a delay in sowing limited the downside, analysts said.
At 2:42 p.m., the July futures contract NCHN9 was down 0.28 percent at 2,172 rupees per 100 kg, after gaining more than 2 percent in past two sessions.
"Though monsoon has covered main kharif pulses growing states, they are not getting sufficient rains. Sowing activity is still subdued," said Chowda Reddy, an analyst with Karvy Comtrade Ltd. "Profit-booking is emerging at higher levels."
Chana, a winter sown pulse, is priced lower than summer sown pulses like tur, urad and moong, whose prices have risen in the past few weeks on a delay in progress of monsoon.
Last week, the weather office said this year's monsoon rains would deliver only 93 percent of the long-term average, coming in below normal for the first time in four years.
Demand for chana dal and flour usually goes up during monsoon months as supply of vegetables drops in wet weather.
In Delhi spot market price rose by 21 rupees to 2,210 rupees.
GUAR:
India guar seed futures were lower as monsoon entered Rajasthan, a key producer, analysts said.
"South west monsoon has further advanced into.. some more parts of east Rajasthan," India Meteorological Department said on its Web site on Tuesday.
However, estimates of a 10 percent fall in acreage limited losses, analysts said.
Guar is primarily a rain-dependent crop and good monsoon will increase output and supplies, depressing prices, analysts said.
"Monsoon will be a crucial factor for guar," said Kapil Gandhi of STCI Commodities.
At 2:41 p.m., the August futures contract NGUQ9 was down 0.7 percent at 1,841 rupees per 100 kg.
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