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Muted demand drags chana futures down by 3.48 per cent

Press Trust of India  |  New Delhi 

Chana prices were down by 3.48 per cent to Rs 5,182 per quintal in futures trade today as participants trimmed their positions, driven by subdued demand in the spot market against adequate stocks.

Leading agri-commodity exchange had relaunched the chana futures contract from Friday.

Meanwhile, market regulator had lifted ban on futures trading in chana (gram) to ensure better price realisation for farmers as the country has achieved record production in 2016-17 crop year.

Pulses prices have declined in the domestic market in view of record production at over 22 million tonnes in 2016-17 crop year (July-June), making a case for lifting the ban on chana futures.

in June last year had suspended introduction of any new contracts in chana to curb speculation and check prices.

At the National Commodity and Derivatives Exchange, chana for delivery in far-month October declined by Rs 187 or 3.48 per cent to Rs 5,182 per quintal with an open interest of 3,900 lots.

Similarly, the commodity for delivery in September contracts shed Rs 125 or 2.35 per cent to Rs 5,203 per quintal in 7,430 lots.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, July 17 2017. 13:42 IST